According to @PANewsCN, Tom Lee stated that ETH remains in a supercycle and noted that while price often leads fundamentals, there are periods when fundamentals lead price. Source: PANews X post on Oct 26, 2025. He cited a surge in stablecoin demand and Ethereum network transaction volume reaching an all-time high as examples of fundamentals that can precede price action. Source: Fundstrat X post: x.com/fundstrat/status/1982427656378597731, Oct 26, 2025. For traders, Lee’s view underscores monitoring on-chain metrics such as stablecoin demand and Ethereum transaction volumes as potential leading indicators for ETH momentum. Source: Fundstrat X post and PANews X post on Oct 26, 2025.