Ethereum Reclaims $2,100 as Tom Lee Reaffirms Store of Value View

Traders appear to be watching usage and development closely. Ethereum continues to host stablecoins, tokenized assets, and lending tools that process large volumes each day.

These uses give weight to the store of value argument raised by Lee. As more capital moves through these systems, holders see ETH as fuel for the network rather than a short-term bet.

The return to $2,100 also follows weeks of price pressure that left ETH price trading below key levels. As of writing, the ETH price was trading at $2,040.72.

While risks remain across global markets, the lack of panic selling suggests many investors are willing to wait. For now, the price action reflects patience rather than excitement.

Developer Activity Points to Ethereum as Financial Backbone

Away from price charts, Ethereum developers released a series of updates that kept attention on the network itself. Changes tied to scaling and data handling were rolled out to support layer two networks that rely on Ethereum for security.

These updates aim to keep fees lower while maintaining reliability. New tools for on-chain identity and automated agents were also introduced.

These systems allow users and services to verify information without relying on central platforms. Early data shows thousands of registrations, indicating interest beyond testing stages.

Institutional involvement continued as well. A dollar-backed stablecoin launched on Ethereum through a major asset manager, adding to the list of regulated products using the network.

Tokenized stocks and funds also expanded, giving users access to traditional assets through blockchain rails. Layer two networks such as Arbitrum, Optimism, and Polygon shipped their own updates during the same period.

Each depends on Ethereum for final settlement, which links their growth to the base network. Together, these releases show steady work rather than sudden change.

ENS Discussion and Price Implications

Ethereum Name Service became part of the wider discussion after comments from Vitalik Buterin. He explained that ENS records are important data that should remain on the main network due to their value and limited size.

Buterin also noted that ENS has financial aspects, since names can be costly and valuable.

ENS Domains Unveils Crucial Pivot | Source: Vitalik Buterin

The Ethereum founder suggested that identity data belongs on layer one, while user actions can move to simpler layer two systems. This approach keeps core information secure and easy to access. It also fits with Ethereums broader scaling plans.

For the market, these discussions add context rather than immediate price impact. Ethereum price remains tied to how well the network supports real use. Holding above $2,100 keeps the short-term outlook stable, but future moves will depend on continued activity.

Notably, as developers ship updates and institutions build products, Ethereum remains central to digital finance efforts. Investors watch progress rather than reacting to noise.