Ethereum News Today: Ether Soars 150% Amid Institutional Demand Bitmine Predicts $60K Target Backed by Stablecoin Adoption

Ether prices have surged 150% since April lows below $1,500, approaching $4,000 this week amid heightened demand from institutional exchange-traded products and corporate treasury allocations. Tom Lee’s Bitmine Immersion Technologies, a leading Ethereum treasury firm, has sparked industry debate with its prediction that ETH could reach $60,000 per unit. The firm, which holds 566,800 ETH ($2.12 billion at current prices), released a report titled “The Alchemy of 5%” outlining its bullish thesis. Bitmine argues Ethereum is significantly undervalued, citing its role as a “digital oil” and the expanding adoption of stablecoins and tokenized assets on its network. The firm also highlighted U.S. Treasury Secretary Scott Bessent’s forecast of a tenfold rise in stablecoin market capitalization, with 60% of that tied to Ethereum [1].

Bitmine’s analysis suggests that several research firms have estimated Ethereum’s implied “replacement” value at $60,000, based on its integration into Wall Street’s tokenization strategies. This valuation assumes Ethereum becomes a foundational layer for financial infrastructure, akin to how gold underpins global markets. The firm’s aggressive ETH accumulation has driven its net asset value per share to rise sixfold in 18 days, while its stock (BMNR) has surged 724% since late June, reflecting strong market confidence in its Ethereum-centric strategy. With a 0.47% stake in the total ETH supply—accumulated at a rate exceeding monthly issuance—Bitmine has positioned itself as the “MicroStrategy of Ethereum” [1].

Despite these optimistic forecasts, ETH has retreated 2.5% to $3,780 by July 29, 2025, missing the $4,000 psychological threshold. The asset has consolidated above $3,500 for nearly two weeks, with sustained buying pressure from ETFs and corporations maintaining upward momentum. However, broader market cooling, driven by regulatory uncertainty and macroeconomic volatility, has tempered short-term gains. Bitmine’s report acknowledges these risks, emphasizing that the $60,000 target depends on speculative assumptions about Ethereum’s institutional adoption and tokenization potential. Analysts caution that such valuations rely on factors like network upgrades, regulatory clarity, and macroeconomic stability, which could either accelerate or hinder adoption [1].

The firm’s aggressive accumulation strategy and public advocacy have intensified focus on Ethereum’s long-term potential. Yet, critics argue the $60K prediction aligns more with a narrative of technological dominance than near-term fundamentals. While stablecoin growth and tokenization trends provide a theoretical basis for higher valuations, execution risks remain. For instance, Ethereum’s ability to maintain its 60% dominance in stablecoin markets and secure widespread adoption of tokenized assets will be critical to validating this target. Bitmine’s performance underscores the growing influence of corporate treasuries in shaping crypto markets, but investors are urged to weigh the concentrated exposure risks inherent in such speculative strategies [1].

[1] https://cryptopotato.com/will-eth-price-reach-60k-tom-lees-bitmine-thinks-so/