Tom Lee, co-founder of Fundstrat, predicts Ethereum could reach $250,000, a 125x return from its current $2,000 price. Lee points to Ethereum's recent outperformance of the Nasdaq-100 and Bitcoin in July as a potential precursor to a massive rally. He cites a strategic roadmap through 2029 and a blockchain overhaul aimed at improving speed, cost, security, and scalability. Lee believes Ethereum will become the blockchain of choice for AI agents and benefit from Wall Street trends like real-world asset tokenization and stablecoins, a transformation he calls ETH 2.0. However, Ethereum remains down 40% for the year and faces internal dissent at the Ethereum Foundation.