Key highlights:
- Bitget’s Ryan Lee projects Ethereum could test the $2,800 – $3,000 range by mid-July amid improved staking efficiency and ETF inflows
- Tom Lee joins BitMine Immersion Technologies as chairman, steering a $250M pivot towards an Ether-focused treasury model
- Ethereum’s on-chain activity surges to its third-highest daily transaction count in history, signaling potential network revival
Bitget’s Ryan Lee forecasts Ethereum rally to $3,000
Ethereum is showing renewed strength as it eyes a near-term price target of $3,000, according to Bitget‘s chief analyst Ryan Lee. ETH is currently trading around $2,500, up 11% over the past week. The upward momentum is driven by improved staking efficiency following a validator backbone upgrade, a reduction in ETH supply, and nearly $280 million in ETF inflows.
Lee also highlighted the impact of clearer regulatory signals, particularly the GENIUS Act, and heightened on-chain activity as contributing factors. Despite potential short-term volatility tied to the June 28 options expiry and broader macroeconomic developments, Lee maintains a cautiously optimistic stance, suggesting Ethereum could test the $2,800 – $3,000 range by mid-July.
Tom Lee joins BitMine as firm pivots to Ethereum treasury strategy
In a significant move reflecting growing institutional interest in Ethereum, market strategist Tom Lee has joined BitMine Immersion Technologies as chairman of the board. The announcement comes as BitMine secured a $250 million private placement to adopt ETH as its primary treasury reserve asset, marking a strategic pivot from its original Bitcoin-focused operations.
⚡️JUST IN: TOM LEE WANTS TO BUILD ETHEREUM’S “MICROSTRATEGY”
Wall Street Strategist Lee is now Chairman of BitMine, a tiny BTC miner aiming to become the largest public #ETH holder! 🚀
A $250M raise will fund its Ether-first treasury —echoing Saylor’s BTC strategy. 🟠 pic.twitter.com/dCE7uOUGVL
— Coin Bureau (@coinbureau) June 30, 2025
BitMine’s fundraise, led by MOZAYYX with participation from major crypto investors like Founders Fund, Pantera, and Galaxy Digital, involves the sale of over 55 million shares at $4.50 each. The proceeds will support the firm’s Ether accumulation strategy.
Lee emphasized Ethereum’s foundational role in stablecoin infrastructure, stating, “Ethereum is the blockchain where the majority of stablecoin payments are transacted … and thus, ETH should benefit from this growth.” BitMine will now track “ETH per share” as a key performance metric, akin to MicroStrategy’s “BTC per share.”
The pivot aligns BitMine with a growing trend among public firms shifting to Ether-centric treasury models. SharpLink Gaming, for instance, recently acquired over 176,000 ETH and appointed Ethereum co-founder Joseph Lubin as chairman.
On-chain activity surges despite market uncertainty
Despite ETH’s volatile price action, which has been fluctuating between $2,111 and $2,879 in the past month, Ethereum’s network usage is spiking. On June 25, Ethereum recorded 1.75 million confirmed transactions, the third-highest daily count in its history, according to CryptoQuant analyst Carmelo Alemán.
Historic Activity on Ethereum
“On June 25, Ethereum recorded 1,750,940 confirmed transactions, marking the third-highest daily transaction count in the network’s history.” – By @oro_crypto pic.twitter.com/5tXYV8PIdz
— CryptoQuant.com (@cryptoquant_com) June 27, 2025
This surge reverses a months-long downtrend and suggests increased participation from DeFi protocols, arbitrage bots, and traders responding to market dynamics. Combined with steady ETH holdings on exchanges and sustained activity on Layer 2 networks like Arbitrum and Optimism, the data points to a broader structural recovery in Ethereum’s ecosystem.
While Ethereum’s price has yet to fully reflect these fundamentals, the confluence of institutional adoption, technical upgrades, and rising on-chain engagement paints a compelling picture for the months ahead.
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Source:: Analyst Sets $3,000 Ethereum Price Target as Bullish Factors Accumulate