Tom Lee, chairman of Bitmine, has made a bullish prediction about the future price of Ethereum. At the Consensus Miami event, he stated that the cryptocurrency's price will reach between $9,000 and $12,000 by the end of 2026. This forecast is in line with his previous predictions for Ethereum, which have not been entirely accurate.
However, Lee is not alone in his optimism about Ethereum's prospects. He pointed to two tailwinds that he believes will drive up the price: tokenization and agentic AI. Tokenization refers to the process of converting assets into digital tokens, which can be traded on blockchain platforms. Agentic AI, on the other hand, refers to the use of artificial intelligence in making decisions.
But despite Lee's confidence, there are some signs that Ethereum's holders may be losing conviction. According to data from Binance, the exchange has seen several hourly inflow spikes through early May, with 216,152 ETH worth $511 million flowing into the exchange on May 6 alone. This could indicate that some investors are selling their holdings in response to price volatility.