Ethereum remains the strongest competitor to Bitcoin. Many investors predict that Ethereum’s market cap could one day reach $1.298 trillion. In such a case, the price of ETH could rise to $10,785.
Ethereum has long been the closest rival to Bitcoin ($65,830) as the second-largest cryptocurrency by market cap at $2,667. While Bitcoin continues to dominate the market, investors are speculating that ETH could have significant growth potential if it were to one day catch up to BTC’s total market cap. At the time of writing, ETH is trading at $2,643, with a market cap of $318.2 billion, according to market data. Considering decentralized finance (DeFi), NFTs, and the increasing adoption of ETH, Ethereum’s market cap is currently well behind Bitcoin’s $1.298 trillion.
However, thanks to Ethereum’s transition to Proof-of-Stake, increasing institutional adoption, and significant interest in spot Ethereum ETFs in the US, its price recovery is expected to accelerate and could potentially challenge Bitcoin’s market dominance in the future.
If Ethereum were to reach Bitcoin’s market cap, the price of ETH could rise to around $10,785, with a circulating supply of around 120 million, representing a 309 percent increase from the current price.
Vitalik Buterin's Core Principles for Ethereum Growth
Vitalik Buterin, one of the co-founders of Ethereum, has outlined some basic principles to increase harmony in the ecosystem. Buterin emphasized that open source development, open standards, decentralization and security should be prioritized. He also emphasized the importance of cooperation and harmony with the global blockchain community for Ethereum to achieve its goals.
“My ideal goal is to see more assets like L2beat emerge and track the extent to which individual projects meet the above criteria,” Buterin wrote on his blog. Once these developments are implemented, Ethereum’s appeal in the cryptocurrency market will increase and its potential to catch up with Bitcoin will be strengthened.
Ethereum Price Support Test Expected
Like other major altcoins, ETH’s price has undergone a significant correction since May 2024. The downtrend dragged the altcoin king from $3,974 to $2,649, resulting in a 33% loss.
If selling pressure continues, Ethereum’s price is expected to drop another 18.7% before retesting a key support trendline. Historically, such dynamic supports have been observed to cause the altcoin’s price to double if a potential reversal occurs, marking a significant accumulation zone.
Ethereum has the potential to catch up with Bitcoin’s market cap thanks to its active expansion in the DeFi ecosystem and increasing conscious investment. Once ETH’s market cap reaches $1.298 trillion, its price is likely to rise to around $10,785.
