Fundstrat’s head of research, Tom Lee, believes Ethereum could be on the verge of a massive surge in network fees, driven by shifting trends in corporate finance and a growing appetite for crypto integration.
According to Lee, younger generations are likely to steer away from traditional banking and gravitate toward institutions that are crypto-native. This shift, he suggests, will encourage companies—especially fintech giants like PayPal and credit card issuers—to hold crypto assets like Bitcoin and Ethereum as part of their operational capital.
Lee likens firms such as MicroStrategy and Metaplanet, which already hold Bitcoin in their treasuries, to early examples of this emerging financial architecture, one that could soon be replicated by larger institutions.
Ethereum stands to benefit significantly from this transformation. With the bulk of stablecoins, tokenized assets, and real-world asset infrastructure built on Ethereum, the network is uniquely positioned to handle this new demand. Stablecoins, in particular, already contribute around 30% of Ethereum’s transaction fees, highlighting their growing role in network activity.
Lee pointed to a recent comment by U.S. Treasury Secretary Scott Bessent, who estimated the stablecoin market could expand to over $2 trillion—an increase that would represent a tenfold rise in network fee revenue for Ethereum.
As Ethereum continues to dominate the stablecoin sector and real-world asset tokenization, Lee argues that fee revenue could scale exponentially. Data from DeFiLlama supports this view, showing that Ethereum has already accumulated over $20 billion in fees to date, with daily earnings surpassing $128,000.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.