저자: TomLee·RaulPal등 · 외국인
요약 보기
이더리움은 비트코인과 경쟁하기보다 AI 에이전트·토큰화 자산·글로벌 결제의 금융 인프라가 될 수 있으며 현재 가격은 과소평가라는 주장. 공동창업자 Joe Lubin의 $250,000 시나리오를 소개하며 1800달러 대비 약 100배 상승 가능성을 언급. 근거로 채권시장의 금리인하 반영, 6월 코어 CPI 디플레이션, CLARITY법 통과 가능성, AI 자금 쏠림 후 크립토로의 순환, 금융주 약세 등을 제시. 블랙록·JP모건 등 토큰화, 로빈후드 체인의 ETH 가스 사용을 긍정 근거로 듦. 단기 하방 가능성도 인정하며 장기 관점 강조.
다듬은 글
Ethereum may no longer compete with Bitcoin. According to some of the biggest names in cryptocurrency and on Wall Street, it could eventually become the financial infrastructure of the entire digital economy. Tom Lee believes that the market is drastically underestimating Ethereum's future role. As AI agents, tokenized assets, and global finance increasingly settle on blockchain networks, today's Ethereum price could look incredibly cheap.
Some of the industry's biggest builders , including Ethereum co-founder Joe Luben, have even claimed that Ethereum could eventually reach around $250,000 per coin, which is about 100 times higher than current levels. There is also Raul Pal, who believes that we are entering a completely new economic era based ical growth.
In his opinion, cryptocurrency is not just another investment. It becomes one of the main assets of the intellectual economy itself. In this video, we break down Tom Lee's latest Ethereum predictions, explain why the adoption on Wall Street could be much bigger than most investors realize, and why Raul Pal believes the upcoming AI supercycle could completely change cryptocurrency over the next few years.
And before we get to the point, just a little reminder that only a small percentage of you who are watching are actually subscribed. If you get value . 95. In the early days of the Internet, people were skeptical. And I think people will be skeptical about a future where you need cryptocurrency to protect yourself from AI, and where ETH is money because it's the future of payment rails.
But just follow me. How much is Ethereum worth in this future? If it's worth 1,800 today, is it worth 25,000, 75,000, or even more? Well, Joe Luben, one of the co-founders of Ethereum , believes that Ethereum will grow 100 times when this future arrives. It's 250,000. And Etherealiz published a big article earlier this year about the path to 250,000, but they believe they view Ethereum as productive money.
Where am I going? I don't know. But let's say it's 2.0. I know, like Amazon , Nvidia, and JP Morgan, the radical growth potential from here. So, uh, but again, 1800 250,000 is about 100x. In 1995, most people were struggling to understand why the Internet was important. It seems slow, expensive, and unnecessary.
Tom Lee believes that Ethereum is at a remarkably similar stage today. Many investors still view it as just another cryptocurrency, while others believe it is quietly becoming the foundation of an entirely new financial system. If artificial intelligence transforms the global economy, as many experts expect, billions of autonomous transactions may eventually require a secure decentralized payment network.
This is where Ethereum comes into play. Lee points to Ethereum co-founder Joe Lubin, who claimed that Ethereum could eventually approach $250,000 if this vision becomes a reality. While Lee didn't make the same prediction, he believes investors should focus on the scale of the opportunity rather than getting attached to today's price.
Every revolutionary technology seemed difficult to evaluate before it became widespread. The evidence supporting this thesis continues to grow. Global financial companies are expanding tokenization initiatives. Stablecoins are accumulating huge amounts of value every month, and more and more real assets are steadily moving to the blockchain.
Ethereum remains the largest platform, powering a significant portion of this activity, giving it a unique position as blockchain adoption accelerates. Of course, no one can guarantee such high ratings. Cryptocurrency has always been volatile, and significant corrections are part of every cycle. But if blockchain becomes as fundamental to finance as the Internet became to communication, Ethereum's long-term growth could be much greater than most investors currently imagine.
This long-term vision becomes even more interesting when today's macro environment is added to the equation. Several powerful forces are beginning to align, and together they could create a much stronger backdrop for cryptocurrency than many realize. The bond market has canceled four cuts since 2026.
This is a significant increase. With that in mind, I think the bond market will start to factor in the reduction this year. One of them is that inflation is quite weak. Look at the June core CPI, which was released on July 14. This indicator for the baseline was negative for the month. The US actually had deflation.
It has been a long time since the core CPI had deflation. And I think overall we think the inflation story is much weaker than many people think. The second is the Law of Clarity. This is an important law. It is in limbo and provides a framework for us to know which regulatory body can set national policy on cryptocurrencies.
In this case, it's the CFTC. But markets are predicting only a 44% chance that the Clarity Act will be signed into law, which is below 50%. Industry insiders believe it is much higher. For example, the vice president of Coinbase believes we are on the verge of one yard, and Senator Cynthia Loomis, who is working tirelessly on this, believes we are at the point where they are going to land the plane.
The third is the fear of missing out ( FOMO) from artificial intelligence. In case you haven't noticed, many stocks of AI companies have performed very well , and 86% of all venture dollars this year have gone to AI. This takes money away from cryptocurrencies. But the situation may change. For example, Chimoth and CNBC say, “I think you’re going to start to see the costs and profits of AI shift a little bit .” Well, when things start to cool down, it's good for cryptocurrencies.
Fourth, the crypto sector depends on the financial sector as its object. And if you look at the S&P 500 sectors since the beginning of the year, the leaders since the beginning of the year are things like memory, technology, semi-finished products, energy and materials, all of which are related to the artificial intelligence supply chain.
And the financial sector is one of the worst-performing sectors since the beginning of the year. So this acts as a headwind for cryptocurrencies. But we believe that crypto spring is here, and this is not a direct hire. Demarc Analytics and Tom Demarc, our cryptocurrency market buying timing advisor, believe that everything seems to be in place for a market bottom to be reached, and that Ethereum's risk premium is increasing.
These are quite constructive comments. He refers to the 1987 analogue. Ethereum today is very similar to the S&P of 1987, and as you can see, in 1987 the S&P recovered nicely over the next month. This means that Ethereum will reach 2200 in August. Steve Satmir, a former Bank of America strategist, a tech strategist, actually issued a warning.
He says ETH is stabilizing on a tactical basis. And he believes that if we can break through a few key levels, we could see 2225 to 2239, which is very similar to Tom DeMar's targets in about a month. Tom Lee believes the market is focusing too much on short-term uncertainty, while ignoring several powerful forces that could change the outlook for Ethereum and the cryptocurrency market in general.
One of the biggest is inflation. Recent data continues to show a decline in price pressures compared to the peak seen over the past few years, supporting expectations that the Federal Reserve may eventually shift to a more accommodative stance. Lower interest rates have historically improved liquidity, and liquidity has often been one of the strongest drivers of crypto markets.
Another important catalyst is regulation. Although the legislation has taken longer than many investors expected, momentum toward a clearer digital asset framework continues to build. Greater regulatory certainty can encourage greater institutional participation, allowing large pools of capital to enter the market with greater confidence.
Lee also argues that the huge hype surrounding artificial intelligence could ultimately benefit cryptocurrency , not harm it. If capital begins to circulate after years of concentrated efforts by AI leaders, digital assets could be among the biggest beneficiaries. At the same time, improving financial stocks often create a healthier backdrop for cryptocurrency, as both sectors tend to benefit from expanded liquidity and strengthened investor confidence.
Technical analysts have also indicated that Ethereum is showing signs of stabilization after a long period of weakness. While short-term volatility should always be expected, Lee believes the overall risk and reward has shifted in favor of long-term investors. These macroeconomic forces are important, but they become even more powerful when they meet real implementation.
This is where the Ethereum story becomes much harder to ignor and when looking at online. A lot of people will look at ETH here and say, look, the top of the range is 5,000, and they don't see any further growth . But I disagree. I think people are furiously giving up on Ethereum here. Why am I saying this?
Well, unlike the crypto market of 2022, Wall Street is building on Ethereum. There have been significant victories in tokenization over the past 12 months. Biddle from Black Rockck, Mooney from JP Morgan, Securitizes continue to have great success. Ono Finance too, and there were many wins at the second level.
These are Robin Hood Chain, Coinbase, Krakens, Inc., but perhaps the most notable breakthrough is the Robin Hood Chain created at Arbitum this year. Vlad, who runs Robin Hood, believes that everything that runs on traditional rails will eventually become tokenized onchain. We also hold this view, but this is an important matter.
And the Robin Hood chain, which just launched in July, has already processed more volume than many cryptocurrency exchanges. And on July 9, it was 560 million. It has already exceeded a billion as of today. In fact , as we point out, the Robin Hood chain is a major deal because it uses ETH as its native gas token.
Transaction fees are denominated in ETH and are calculated on Ethereum L1. Guess what? It sounds like ETH is money. That's why I think it's important. The Robin Hood network makes money on ETH. Many investors still view Ethereum through the prism of its previous all-time high and assume that the biggest gains are behind them.
Tom Lee disagrees. He believes that this view ignores one of the most important changes taking place in finance today. Unlike previous crypto cycles, which were largely driven by speculation, this one is increasingly supported by real institutions that are building real products on Ethereum. Over the past year, tokenization has accelerated on Wall Street.
Firms such as BlackRock, JP Morgan, Securitize, and Ono Finance continue to move traditional financial assets onto blockchain networks. The goal is simple. Move assets such as money market funds, bonds, and other securities to a faster, more efficient infrastructure that operates 24/7. Ethereum remains at the center of much of this activity due to its security, developer ecosystem, and proven track record .
Tom Lee also points to the rapid growth of second-tier networks. Coinbase, Kraken, and Robin Hood have expanded their blockchain initiatives, helping to lower transaction costs while still settling using Ethereum. The launch of the Robin Hood blockchain attracted particular attention because transaction fees eventually returned to Ethereum, strengthening its role as a network that protects the entire ecosystem.
That's why Lee describes Ethereum as productive money, not just another digital asset. Every new application, tokenized asset, and financial service built on Ethereum creates additional demand for the network itself. If this trend continues, Ethereum may not just benefit from cryptocurrency adoption.
It could become one of the foundations supporting the future financial system, making today's assessment look very different in retrospect. The asset of intelligence and computing must grow faster than the interest payments. This is a big bet. This is very different from the other boom. These were real booms, and they lasted a long time.
There have also been some downturns, but this technology has not disappeared. It's just that some players disappeared, and we had a phase change. So I think over time it won't be a recession. There is a possibility that there are sectors that could be affected, but overall the game is too big for anyone to allow it to fail.
No nation-state can allow this, and no firm can allow this. There are many opportunities for financing through debt growth. The government does its part of the work, and productivity will do the rest, and that's what we're moving towards . And then, eventually, we'll get to the point where money will stop measuring what the new system produces, because we won't even see that economy.
It's an invisible economy of agents and robots that we're not even a part of half the time. What benefit will we get? Well, we'll have to find out. All I know is that we have to adapt to this. We must adapt to this , because the whole world is organized around intelligence, and everything happens according to it.
All our investments are exactly that . All our time, we all have to move up the curve. You can't fall behind in big races because you will really fall behind unless you decide to give up on them, which is also okay. But everything is happening at an extraordinary speed. It's hard for us to keep up. It's hard for us to even focus on the amount of change we see every day right now.
And again , it will only be faster. While Tom Lee focuses on Ethereum's growing role in finance, Raul Pal believes the story is even bigger. In his opinion, the world is entering a technological supercyclutomation, and exponential computing power. These are not isolated trends . They reinforce each other, creating an economic transformation unlike anything before.
Pal argues that previous technological revolutions have failed, but core innovations have never disappeared. The internet bubble burst, but the internet continued to transform almost every industry. He believes that artificial intelligence is following a similar path. Individual companies may stumble, but governments and corporations have too much at stake to allow the broader transformation to fail.
The race for leadership in artificial intelligence has gone global, with countries investing hundreds of billions of dollars in data centers, chips, energy infrastructure, and next-generation software . As productivity increases, Pal expects economic growth to increasingly outpace the cost of financing these investments, creating an environment where innovation continues to attract capital rather than suffer from a lack of it.
Cryptocurrency can benefit as blockchain networks provide the infrastructure for digital property, decentralized payments, tokenized assets, and machine-to-machine transactions in an increasingly automated economy. Pal's message is simple. Investors who spend all their time worrying about temporary volatility risk missing a much larger trend that will unfold over the next decade.
If this technological shift continues to gain momentum, the biggest opportunity may not be in trading at the top , but in owning the infrastructure that powers the next generation of the global economy. When you put all these pieces together, a much bigger picture begins to emerge. Tom Lee sees Ethereum evolving into a settlement layer for an increasingly digital financial system.
Raul Pal sees artificial intelligence creating a completely new economy, where software agents, robots, and machines interact continuously without human intervention. These ideas may seem ambitious today, but they point in the same direction. A future where blockchain infrastructure becomes as important as the internet itself.
This is why institutional implementation is so important. Every tokenized asset, every stablecoin payment, and every major financial company building on blockchain strengthens the long-term investment case. These are not isolated ads designed to generate headlines . They represent a gradual transformation of how value moves around the world.
As more capital moves through the chain, the networks protecting these activities could become significantly more valuable over time. None of this guarantees a direct path to the top. Cryptocurrency has always experienced sharp corrections, unexpected declines, and periods when sentiment became predominantly negative.
However, each major cycle has also been accompanied by a stronger infrastructure, greater distribution, and wider acceptance than the previous one. For long-term investors, this may be the most important takeaway. The greatest opportunity may not come from predicting every short-term move. It may arise from the realization that the financial system itself is changing.
If Tom Lee and Raul Pal are at least partially right, Ethereum and the crypto market as a whole may be much closer to the beginning of this transformation than to the end. .
Comments 0