Tom Lee: Continued Surge in Ethereum On-Chain Activity Provides Solid Basis for Major Market Movements by Year-End

Foresight News reported that Tom Lee stated in an interview with CNBC: "Cryptocurrencies have just experienced the largest deleveraging event in history, with an impact magnitude that could be several times that of the FTX incident, yet bitcoin's ultimate decline was maintained within the 3%-4% range. This fully demonstrates that bitcoin itself is becoming a highly resilient store of value. Imagine if a similar shock occurred in the gold market: even in the face of a massive liquidity crisis, if gold only dropped by a few percentage points, the market would see this as solid proof of its value anchoring. This is exactly what we are seeing with bitcoin right now. Driven by stablecoins, both Ethereum Layer 1 and Layer 2 networks are experiencing significant growth in activity, but this fundamental improvement has not yet been fully reflected in token prices—there is typically a lag in market pricing. From my observation, the ongoing increase in on-chain fundamental activity actually provides a solid basis for major market movements before the end of the year."