THE DATA DOESN’T SCREAM “CRYPTO WINTER”
Tom Lee says a lot of people are leaning on the four-year cycle and expecting a long downturn. Timing-wise, you could make that argument. But the on-chain data is pushing back hard.
Ethereum is roughly at the same price it was in June, yet active addresses are up around 115%, daily transactions are up 77%, and real-world asset TVL has grown about 50%, with roughly $23B added in the past 30 days. In prior crypto winters, activity falls off a cliff. Wallets go quiet. Usage contracts.
That’s not what’s happening.