Tom Lee Says Ethereum Set For Breakout As Stablecoins Become 'ChatGPT Moment' For Wall Street And Crypto

Tom Lee, co-founder of Fundstrat Global Advisors, believes Ethereum is poised for a breakout due to the rise of stablecoins, which he likens to a 'ChatGPT moment' for Wall Street and crypto. Despite a 9% year-to-date decline, Ethereum has gained 22% in the past month. Lee highlights increased demand from stablecoins and the tokenization of real-world assets by major financial institutions as key drivers. He also notes Ethereum's role as a technology platform, with significant infrastructure being built on it by firms like JPMorgan and Robinhood. Lee connects Ethereum's potential to broader market dynamics, anticipating positive trends for risk assets as the Federal Reserve is expected to cut rates in 2025.