Fundstrat founder Tom Lee believes that the rise in oil prices over the last three months is negatively impacting Ethereum's value. He notes that the inverse correlation between Ethereum and oil prices has reached a record high, representing the biggest hurdle for the crypto asset. This is reported by Cointelegraph.com reports .
Against the backdrop of tensions between the U.S. and Iran, WTI and Brent crude oil prices have risen significantly. This situation led to a decline in Ethereum's price, with the asset dropping nearly 10% over the past week to the $2,100 level. This is 57% below its all-time high.
Tom Lee emphasized that the stabilization of oil prices would help Ethereum recover, calling the current situation 'short-term tactical noise.' According to him, fundamental factors such as tokenization and agentic AI will ensure long-term growth for Ethereum.
Ethereum remains the leading network for the tokenization of real-world assets, with major financial institutions like BlackRock and JPMorgan launching their funds on this platform. Additionally, the use of crypto assets for payments by AI agents is a significant factor for Ethereum's future.
Read “Zamin” on Telegram!
