Ethereum drew fresh attention this week after Fundstrat’s Tom Lee repeated his $60,000 price target before attendees at Paris Blockchain Week. Lee, co-founder of Fundstrat Global Advisors, told the audience he still sees roughly 25x upside potential from where ETH currently trades.

That is not a new number from Lee. But the timing matters.

Lee Ties ETH to a Financial Inflection Point

His core argument centers on tokenization. Lee has said publicly that 2025 represents what he calls Ethereum’s “1971 moment,” drawing a comparison to when the US dollar left the gold standard and Wall Street rebuilt its financial products around fiat currency. The same thing, in his view, is happening with blockchain rails now.

“He believes it still has around 25x potential from current levels,” as CryptoPatel noted on X, summarizing Lee’s remarks from the event. “If this happens, this cycle could be one of the biggest wealth opportunities in crypto.”

Lee has made this case at multiple venues. At Binance Blockchain Week in December 2025, he put a specific figure of $62,000 on ETH and called the asset “severely undervalued” at $3,000. The Paris appearance keeps that thesis alive heading into what Lee frames as the defining phase of institutional crypto adoption.

ETH Price Holds but Wave Confirmation Pending

Away from conference stages, ETH’s price structure right now tells a quieter story. On the technical side, the asset remains above a support area that has been holding and producing reactions.

Crypto analyst Morecryptoonl flagged on X that ETH is showing a five-wave move to the upside. The main support zone sits between $2,031 and $2,221. That range continues to hold. No meaningful change from the prior structure update.

But there is a catch. The wave count shows no confirmation that a wave 1 has topped. For a wave 2 pullback to be official, ETH would need a break below $2,295. Until that happens, Morecryptoonl wrote, there is no clear evidence the first leg of the move is done.

That is a meaningful distinction for anyone watching entry points. The structure stays intact above support but lacks the kind of directional signal that would confirm the next phase has started.

The Gap Between a Price Target and Current Reality

ETH trading above $2,200 right now and ETH at $60,000 is a distance that requires more than tokenization enthusiasm to close. Lee’s own track record shows bold calls do not always land on schedule. His $12,000 to $15,000 ETH targets for late 2025 did not materialize.

Still, the institutional layer his thesis rests on is not imaginary. BlackRock and other major financial firms have been building tokenized products primarily on Ethereum. Real-world asset tokenization on Ethereum already reached 90% market share of that segment, according to data shared by Capital.com. The structural case has backing. Whether $60,000 is the right number or the right timeline is a different question.

Lee’s Paris Blockchain Week appearance keeps the conversation going. The wave structure below $2,295 is what traders are watching right now.