BitMine Soars as Tom Lee Predicts Ethereum’s 100x Supercycle
BitMine Immersion Technologies (BMNR) is garnering attention as Tom Lee forecasts a significant rise for Ethereum (ETH), anticipating a “Supercycle” comparable to Bitcoin’s extraordinary growth.
Tom Lee’s Predictions for Ethereum
Tom Lee, a prominent figure in the cryptocurrency market, has expressed strong support for Ethereum. He believes ETH is on the verge of a supercycle akin to the one that propelled Bitcoin from $1,000 to over $126,000 since his initial recommendation in 2017.
Market Response
Following Lee’s comments, shares of BitMine traded at $35.15 during Monday’s pre-market session, showing a modest increase of 2.18% from the previous day. Lee emphasized that ETH is beginning the same pattern that made Bitcoin a generational investment.
Recent Performance of Ethereum
- ETH reached a peak of $4,946 in August 2025.
- It experienced a decline of over 35%, influenced by macroeconomic concerns.
- Currently, ETH is trading around $3,150, nearing the average cost basis for long-term holders.
Long-Term Holder Insights
CryptoQuant contributor Burak Kesmeci highlighted that approximately 17 million ETH has moved into accumulation addresses this year. Long-term holder balances surged from 10 million ETH at the start of the year to 27 million currently.
Kesmeci noted that if ETH approaches $2,900, it could present one of the strongest investment opportunities in recent years. He indicated that levels near this cost basis have historically prompted aggressive buy-ins.
Market Sentiment and Future Outlook
Recently, Ethereum’s price fluctuated around $3,197 after dipping to $3,023. While market sentiment appears fragile, long-term holders seem to be reinforcing their positions. Lee’s assertion is clear: the cycle that previously drove Bitcoin’s value may now be setting the stage for Ethereum’s rise.
If long-term holders manage to maintain their average cost basis, Ethereum could be positioned for a significant surge in the near future.
