According to the businessman, the main catalyst for the growth of the second largest cryptocurrency by market capitalization will be the increasing popularity of tokenization of securities.
«Cryptocurrency has been disappointing for the past few months. Prices are falling and optimism is quickly giving way to pessimism. But the real story is tokenization. The best years of growth are ahead: a 200-fold increase in the ecosystem of tokenized assets is coming, and this is just the beginning,» Lee shared his thoughts.
The Ethereum network currently accounts for over 70% of the market value of tokenized real assets, including second-layer solutions. The price of Ether has remained within a narrow range for the past few years but recently started to break out of this corridor, noted the chairman of BitMine.
A prolonged period of cryptocurrency consolidation should be considered an important indicator of future price movement, believes the businessman. If banks and management companies speed up the integration of blockchain solutions, it will create an additional influx of liquidity into the Ethereum ecosystem, believes Tom Lee.
Earlier, Bitwise analysts reported that companies that created their own Ether reserves bought only 370,000 coins from the market in November — this is 81.3% lower than the peak value of August (1.97 million).
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