Bitmine Chairman Tom Lee said at WebX 2026 in Tokyo that Ethereum is moving beyond what he described as the ETH 1.0 era of ICOs, NFTs, stablecoins, and ETFs, and into a new infrastructure phase tied to settlement and money. Speaking during a keynote on July 13, Lee argued that ETH remains in what he sees as an undervalued range despite having already gone through several major market cycles.
He said Ethereum’s next phase of value creation could be driven by Agentic-AI, its role as a financial settlement layer, and broader monetization. Based on that framework, Lee outlined three long-term price scenarios for ETH: a move above $25,000, then $75,000, and in an extremely bullish case as high as $250,000.
Lee also said current fears around the macro environment and price volatility are leaving ETH in a discounted period. In his view, Ethereum’s long-term value comes from network effects, AI, and cash flows tied to asset tokenization. He added that he is “not worried at all” about ETH’s current price and compared the present setup to the bottoming phase of U.S. stocks after 1987, saying the Ethereum ecosystem is at the starting point of another upcycle.
Lee frames ETH 2.0 as a shift in Ethereum’s role
According to Techub News, Bitmine Chairman Tom Lee said during a keynote at WebX 2026 in Tokyo on July 13 that Ethereum is moving beyond the “ETH 1.0” phase defined by ICOs, NFTs, stablecoins, and ETFs. He said ETH 2.0 is pushing the network into a new infrastructure era, with Ethereum evolving into a settlement layer and a form of money for the global financial system.
Lee said a chart shown at the event placed ETH’s past performance across several cycles, including the ICO boom, the NFT boom, and later periods tied to stablecoins and ETFs. Even after those rounds, he said, ETH still sits in what he considers an undervalued zone. He added that the next stage of value could come from Agentic-AI, financial settlement use cases, and full monetization.
Three long-term price scenarios
On that basis, Lee laid out three long-term upside cases. If ETH becomes both a financial settlement layer and a core monetary asset, he said the price could first break above $25,000 and then reach $75,000. In an extremely optimistic scenario, he said ETH could even climb to $250,000.
Calls the current market a discounted period for ETH
Lee also said market fear around the macro environment and price volatility is keeping ETH in a discounted period. He argued that Ethereum’s real value comes from network effects, AI, and long-term cash flows created by asset tokenization.
He said he is “not worried at all” about ETH’s current price and compared the current stage to the bottom seen in U.S. stocks after 1987. In his view, the Ethereum ecosystem is now at the starting point of a new upward cycle.
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