Wall Street’s adoption of asset tokenization and blockchain settlement networks could drive one of the largest cryptocurrency bull cycles yet, according to Tom Lee.

The shift would extend beyond dollar-backed stablecoins to a wider range of assets, bringing financial institutions more deeply into blockchain infrastructure, Lee said.

In an Altcoin Daily interview on November 7, the Fundstrat founder described the roughly year-long crypto downturn as over and said a new bull cycle had begun.

Lee identified Wall Street adoption as the central theme of that cycle. While earlier rallies were driven by NFTs and stablecoins, he said the next phase would center on tokenizing assets more broadly and building settlement networks on crypto…