Tom Lee: ETH May Be Nearing Bottom Zone, Historical Eight Halvings Followed by V-Shaped Recoveries

Odaily News Bitmine Chairman Tom Lee stated that Ethereum may experience a new round of V-shaped rebound following its recent decline, and the current price may be approaching the bottom zone. He pointed out that since 2018, Ethereum has undergone 8 decline cycles with drops exceeding 50%, and all 8 cycles completed rebounds at nearly the same speed and achieved 100% recovery. Despite the pressure on price performance, on-chain data indicates that ETH staking demand remains strong. Currently, the waiting time for new validators to enter has risen to a historical high of 71 days, with approximately 4 million ETH queued for staking. The total staked amount accounts for 30.3% of the circulating supply (approximately 36.7 million ETH). (Cointelegraph