Ethereum is trading at $1,919.32 as of July 22, 2026, down 1.07% over the past 24 hours but up 2.44% over the past week, outperforming Bitcoin on a weekly basis for the second week running. The move comes as Bitmine Immersion, the Tom Lee-chaired corporate ETH treasury, continues accumulating toward its stated goal of holding 5% of Ethereum’s circulating supply — the firm’s holdings are now estimated near 4.8% of supply. Lee has continued to argue publicly that Ethereum is undervalued relative to Bitcoin, framing the asset as critical infrastructure for AI-agent transactions and tokenized finance.