Can ETH surpass BTC?

[sarmrakib]

After some successes that ethereum had in 2021 bull run that many people predicted, it fell more in price during bear market. Bitcoin increased to all-time high this year, but ethereum has continued to struggle and has not gotten there.

Also you should not post about something like this when ethereum has continued to be disappointing. This is ETH/BTC 1 day candle sticks chat below. I mean each candle sticks represent 1 day. Green candle sticks means ethereum is rising while red means ethereum is falling.



What you should be afraid of is if other altcoins will surpass ethereum. I think altcoins like USDT, Solana and BNB may likely surpass ethereum in marketcap. Those coins are also called ethereum killer coins.

Tbh eth has under performed. Do you think it's due to gas fees or lack of ground breaking features. And do you think alts like EIGEN might surpass in the future? Cos I'm thinking of grabbing it. Shorted it on Bitget perps today, and now I'm thinking of holding for medium term due to its impressive stats.

I thinks its a normal downtrend. I didn’t make any transaction recently don’t its high or less but still eth is a great and potential project. Eth is the top altcoin on the market as well. Ot could be a fluctuation which is a normal behave of the market and i didn’t notice any huge down move here on the chart. However i think it couldn’t surface btc. I am still holding and trying to DCA. I have strong believe on eth and surely it could be a huge project on the future for sure.

[Cointxz]

I'm starting to believe that Ethereum could eventually surpass Bitcoin as the top cryptocurrency, especially given its strong ecosystem and the recent reduction in gas fees(Is this a rumour).

This is always a hot topic even before during the first introduction of smart contracts by Ethereum blockchain and at some point ETH marketcap was close already to Bitcoin yet it never surpassed Bitcoin.

Right now, there’s already a lot of blockchain that shares to the marketcap of Ethereum including the side chains and other L2 project that dedicated to address Ethereum scalability issue. I doubt ETH will surpassed Bitcoin now that it has a lot of competitor blockchains while Bitcoin is still the king of Blockchain that is not using smart contracts.

[pooya87]

However, Ethereum behaves differently than many coins that are often mined in a "pump and dump" cycle. While some altcoins rely solely on speculation, the Ethereum ecosystem continues to grow through applications. in the real world Whether thanks to DeFi, NFTs or now with innovations like Eigenlayer and the wider staking ecosystem. So while achieving a large pump in the short term can be difficult.

Ethereum is actually acting exactly like any other pump and dump shitcoin, just on a bigger scale because it is more popular than the rest of them. It also has no real world application. Exactly like any other pump and dump shitcoin the owners and pumpers keep coming up with a new fake hype to pump it

Code:

ICO -> IDO -> IBO -> IEO -> ITO -> STO -> DeFi -> NFT

These are arbitrary names describing the same "fundraising" concept, where someone creates a completely useless token out of thin air and sells it to anybody who buys it using ether as its fuel therefore help keeping the "fuel" alive and sometimes help pump it.

Looking at the charts shows the same exact behavior as any other pump and dump shitcoin as well, with same 5 main phases:

• Initial phase where the shitcoin is starting to get hyped, has an initial pump after being on major exchanges for a couple of months (ie. from 0.002 to 0.03 BTC which is 1400% back in 2016)
  
• The initial dump where the investors pull out of the shitcoin, the owners (Vitalik et. al.) cash out their millions by dumping their premined coins (ie. from 0.03 down to 0.007 BTC which is a -76% dump for almost an entire year where we don't see anything more than dead cat bounces)
  
• The biggest pump, this is almost always the last biggest pump the shitcoin can ever see in its entire existence. In this phase the hype is at its maximum (ICO craze for ethereum), bitcoin is on a bull run and waves of newbies are coming in that are good "victims" to sell the shitcoin to (ie. going from 0.007 BTC to 0.15 BTC which is a 2042% pump)
  
• The biggest dump, at this point the hype is ended, people have realized what they've bought has no future so they are not buying into it anymore. As the pumpers realize there is no more potential left, they start dumping the shitcoin (ie. dumping from 0.15 all the way down to 0.015 BTC which is a -90% dump from Jun 2017 to Jan 2020). Duration of this phase depends on the shitcoin, how big it is, how much they can re-pump it during the dump (ie. the dead cat bounces), etc.
  
• The continued dead cat bounces phase where the shitcoin will keep trying to be re-pumped after the massive crash (in this case that -90%) and fails most of the time to get any major pumps bigger than 10%-20% and sometimes it gets some bigger pumps but they will never be as big as the biggest pump and will definitely never reach its ATH. (in case of ETH, because it is a popular shitcoin they managed to pump it up from 0.015BTC bottom for a couple of times and even reach 0.08 BTC but because it is useless it got dumped hard again and today ETH is sitting at 0.03BTC far from the ATH it touched during the third phase....)

[AFR002eeN]

ETH could potentially surpass BTC, especially if Ethereum's ecosystem continues to grow rapidly with applications like DeFi, NFTs, and the Ethereum 2.0 upgrade. However, Bitcoin's position as the original cryptocurrency and its role as a store of value may continue to keep it at the top in terms of market cap for the foreseeable future.

[MusaMohamed]

Ethereum is actually acting exactly like any other pump and dump shitcoin, just on a bigger scale because it is more popular than the rest of them. It also has no real world application. Exactly like any other pump and dump shitcoin the owners and pumpers keep coming up with a new fake hype to pump it

Code:

ICO -> IDO -> IBO -> IEO -> ITO -> STO -> DeFi -> NFT

These are arbitrary names describing the same "fundraising" concept, where someone creates a completely useless token out of thin air and sells it to anybody who buys it using ether as its fuel therefore help keeping the "fuel" alive and sometimes help pump it.

Names are only names and can be created in creative ways by scammers. With new names, they have new trends to scam new investors because they know that previous trends died and people read many warnings on past scam trends. It's more easier to scam with new trends in new creative names, but their basic scam specifications don't change.

Looking at the charts shows the same exact behavior as any other pump and dump shitcoin as well, with same 5 main phases:

• Initial phase
  
• The initial dump
  
• The biggest pump
  
• The biggest dump
  
• The continued dead cat bounces
  

Phases can be different like initial pump or initial dump but generally the game of deception is similar.

Wolong: The Game of Deception. This is an insightful story on a classic pump and dump game on Dogecoin many years ago.

To almost everyone, it is simply just pump and dump. However, the truth is, there are many stages to make a pump and dump successful. The stages include:

• Position Building
• Suppressing prices
• Test Pump
• Actual Pump
• Shakeouts
• Re-allocation and distribution
• Exiting - The Dump

[Rampagoe004]

I totally get where you’re coming from! Ethereum’s ecosystem has been growing so much, and I’ve been keeping an eye on it too. Eigenlayer seems like a solid option for restaking, especially with those lower gas fees; that could really bring in more users and projects. I’m thinking about strategically diving into some Ethereum-based projects myself, so it’ll be interesting to see how things play out this month.

I also think so what is meant by Op Ethereum has developed rapidly, it is possible that ETH will surpass Bitcoin in the future if it continues to be supported by NFT and DeFi, the development is very rapid, especially since it has been supported by Ethereum 2.0.

Now simultaneously new projects are using the Ethereum network with quite a lot of gas fees. low. ETH wants to surpass Bitcoin, the movement must be bigger, unlike now, Bitcoin continues to peak above and remains the mother of all coins considering the large enough popularity with the increase in Bitcoin which is a big influence for the increase in ETH and also other altcoins.

[Hispo]

ETH could potentially surpass BTC, especially if Ethereum's ecosystem continues to grow rapidly with applications like DeFi, NFTs, and the Ethereum 2.0 upgrade. However, Bitcoin's position as the original cryptocurrency and its role as a store of value may continue to keep it at the top in terms of market cap for the foreseeable future.

Also keep in mind Bitcoin was designed to be deflationary in nature, while Ethereum was not, so even though Ethereum could continue to grow and have more acceptance among people who had never used cryptocurrency before, in practical terms the amount of Ethereum for people to mine is infinite and that is an aspect which will inevitably keep the price of Ethereum low, compared to the potential price of Bitcoin in the future. Not even mentioning as well, there are other projects and coins which represent an important competition against Ethereum in the market of smart contracts and Defi, those are the kind of projects which drain liquidity from Ethereum and could slow down it's growth in the long term.

Bitcoin will continue to be the king of Crypto in the foreseeable future.

[nelson4lov]

ETH could potentially surpass BTC, especially if Ethereum's ecosystem continues to grow rapidly with applications like DeFi, NFTs, and the Ethereum 2.0 upgrade. However, Bitcoin's position as the original cryptocurrency and its role as a store of value may continue to keep it at the top in terms of market cap for the foreseeable future.

I personally believe that ship has sailed. The best chance Ethereum had for that was during the "flippening" event that didn't get to happen and at that time, it was a really close race. Now, most ETH faithfuls have abandoned that idea and have since moved away from that kind of mentality. The best thing ETH can do right now is to try and maintain it's 2nd position because some projects are trying hard to beat it.

Btw, "Some projects" in this context include solana.

[Coyster]

I'm starting to believe that Ethereum could eventually surpass Bitcoin as the top cryptocurrency, especially given its strong ecosystem and the recent reduction in gas fees(Is this a rumour).

This is something we have been hearing for quite a long time now, some people touted Ethereum to be bitcoin killer, after all these years it should be glaring that it is definitely not possible. You might consider Ethereums ecosystem to be strong, i consider it to be centralized, more than ever after they switched from POW to POS. There is currently no competition between bitcoin and ethereum, but rather it is between ethereum and a few other altcoins.

[Akbarkoe]

I'm starting to believe that Ethereum could eventually surpass Bitcoin as the top cryptocurrency, especially given its strong ecosystem and the recent reduction in gas fees(Is this a rumour).

This is something we have been hearing for quite a long time now, some people touted Ethereum to be bitcoin killer, after all these years it should be glaring that it is definitely not possible. You might consider Ethereums ecosystem to be strong, i consider it to be centralized, more than ever after they switched from POW to POS. There is currently no competition between bitcoin and ethereum, but rather it is between ethereum and a few other altcoins.

There will never be anything that surpasses bitcoin which is by definition decentralized, centralized coins are easy to be discriminated against by governments and that is very dangerous, although the Ethereum ecosystem is very broad at the moment, it is not a guarantee that ethereum will surpass bitcoin, both people now prefer Solana to Ethereum, so the obvious conclusion is that Ethereum will never surpass bitcoin until whenever, especially since the Bitcoin ecosystem is currently under development, although it is quite annoying because it makes the network congested but maybe people will continue to build their projects on bitcoin relying on ordinals.

[Olatundespo]

I'm starting to believe that Ethereum could eventually surpass Bitcoin as the top cryptocurrency, especially given its strong ecosystem and the recent reduction in gas fees(Is this a rumour).

This is something we have been hearing for quite a long time now, some people touted Ethereum to be bitcoin killer, after all these years it should be glaring that it is definitely not possible. You might consider Ethereums ecosystem to be strong, i consider it to be centralized, more than ever after they switched from POW to POS. There is currently no competition between bitcoin and ethereum, but rather it is between ethereum and a few other altcoins.

It is really surprising to compare BTC with ETH. I think it's just some indiscretion born fantasy and they revenge for higher value of BTC. Don't be surprised if Bitcoin is merged with traditional currencies in the future because you are moving towards that money system. Also need other cryptos like ETH which is constantly attracting investment.

[fikrett]

I'm starting to believe that Ethereum could eventually surpass Bitcoin as the top cryptocurrency, especially given its strong ecosystem and the recent reduction in gas fees(Is this a rumour).

This is something we have been hearing for quite a long time now, some people touted Ethereum to be bitcoin killer, after all these years it should be glaring that it is definitely not possible. You might consider Ethereums ecosystem to be strong, i consider it to be centralized, more than ever after they switched from POW to POS. There is currently no competition between bitcoin and ethereum, but rather it is between ethereum and a few other altcoins.

It is really surprising to compare BTC with ETH. I think it's just some indiscretion born fantasy and they revenge for higher value of BTC. Don't be surprised if Bitcoin is merged with traditional currencies in the future because you are moving towards that money system. Also need other cryptos like ETH which is constantly attracting investment.

Do you think BTC will be merged with something that is associated with traditional currencies? What government would do that aside El Salvador maybe? 

[HawkTrader]

I believe the new EIP-7781 will bring more efficiency to the Ethereum ecosystem with increased throughput and reduced network fee. Meanwhile Eigen Layer seems to increase incentivization for stakers and validators bringing flexibility to staking while leveraging the Ethereum security prowess.

No wonders EIGEN and ETH are making strong market strides recently. It's listing after a while on mainnet is also a proof of the devs commitment to a robust ecosystem capable of driving up adoption.

[EarnOnVictor]

These are facts and are nice to consider as good points because Ethereum is better in functionality than Bitcoin, who knows what that can attract to it in the future? I'm of the belief that "you don't think you can always maintain a top spot simply because you started it first." This can play out in cryptocurrency too, thanks to the competition that is making Ethereum sit upright.

Ethereum blockchain lost a lot of patronage due to the high fee which I believe made it rethink when the likes of SOL, TON and others are transacting with low fees and better scalability. This also prompted BSC to have very low fees, it has been $0 in all my transactions since 3 weeks ago. This is a healthy competition and if Bitcoin is lagging continuously behind like this, who knows, it can be overtaken by any of them.

[Lanatsa]

I'm starting to believe that Ethereum could eventually surpass Bitcoin as the top cryptocurrency, especially given its strong ecosystem and the recent reduction in gas fees(Is this a rumour).

This is something we have been hearing for quite a long time now, some people touted Ethereum to be bitcoin killer, after all these years it should be glaring that it is definitely not possible. You might consider Ethereums ecosystem to be strong, i consider it to be centralized, more than ever after they switched from POW to POS. There is currently no competition between bitcoin and ethereum, but rather it is between ethereum and a few other altcoins.

There will never be anything that surpasses bitcoin which is by definition decentralized, centralized coins are easy to be discriminated against by governments and that is very dangerous, although the Ethereum ecosystem is very broad at the moment, it is not a guarantee that ethereum will surpass bitcoin, both people now prefer Solana to Ethereum, so the obvious conclusion is that Ethereum will never surpass bitcoin until whenever, especially since the Bitcoin ecosystem is currently under development, although it is quite annoying because it makes the network congested but maybe people will continue to build their projects on bitcoin relying on ordinals.

In regarding about the possibilities then i wont really be that closing up my mind on trying out to believe that Bitcoin would really be surpassed into its current position now in the market. We do know that this market is highly speculative and there's no way that we could make out some conclusions that BTC is something that cant be overtaken by something. As we do look around then it cant be denied that there are tons of projects or coins out there that surpasses out Bitcoin when it comes to its features or whatever quality it do have but in overall the community would really be the one that mandates or dictates on how this market would really be.
If Bitcoin had already do things without any issues in terms of payment utility or making those transactions in p2p then it should really be enough.

As for ETH to surpass BTC then there's no way that we could be able to cross out that kind of possibility as this coin/project is really that sitting next to it but of course it will really be that hard to believe
that this could happen considering that the entire community doesnt really like specially on high transaction fees on which this is mainly the complain of people when dealing up with erc20 on which
gas is really that too high. Bitcoin is much more lesser as we do observed, there might be some spike on fees on some time but it doesnt happen all the time.

[Abu-Naim]

These are facts and are nice to consider as good points because Ethereum is better in functionality than Bitcoin, who knows what that can attract to it in the future? I'm of the belief that "you don't think you can always maintain a top spot simply because you started it first." This can play out in cryptocurrency too, thanks to the competition that is making Ethereum sit upright.

Ethereum blockchain lost a lot of patronage due to the high fee which I believe made it rethink when the likes of SOL, TON and others are transacting with low fees and better scalability. This also prompted BSC to have very low fees, it has been $0 in all my transactions since 3 weeks ago. This is a healthy competition and if Bitcoin is lagging continuously behind like this, who knows, it can be overtaken by any of them.

I believe you by saying nothing is parmanent, we can see changes anytime any where, but I think when it comes to creypto space, there is a difference which is very clear.
There is no how you will compare centralization and decentralization; and no matter how you rate Ethereum or any other project in this crypto space, when you remember that they can one day just go down due to either financial crises or the owners of the project deseased, and the hairs cannot keep it up, the project will definately go down; same as other altcoins, Bitcoin is competely different and the market price depemds on the movement of Bitcoin price which makes me think and believe that Bitcoin will remain the best crypto coin we have seen, and no altcoin can overtake it.

[Abiky]

DEX looked like it would have been the thing that keeps ETH going but it didn't do that. We have seen many trends on ETH before from dex to games to even NFT's, there were many things. However, at some point ETH gas fee became so much that people started to use other things and never felt the need to go back. Sure ETH gas fee is low now, but if we start a project there and it becomes very great then wouldn't we increase the gas fee again? We would. This is why people start their projects on other things now.

Plus the low level entry is one reason to prefer other coins, because if you start a project on SOL, people investing even just a few dollars is possible, if you start on ETH then with high gas fee it will not be possible to start small.

That's what happens when a Blockchain network becomes very popular. Fees will increase according to mainstream demand. The situation gets worse when the Blockchain has limited transaction capacity. Solana has greater capacity than Ethereum, but it's often a victim of network outages. In other words, SOL is unreliable while ETH is not.

First-mover advantage is what will keep ETH in the top spot (besides Bitcoin) forever. It's the "King of Altcoins". Without ETH, Solana nor any of the many smart contract platforms we know and love today (Binance Smart Chain, Cardano, Flow, Avalanche, etc) would exist. Originally, it was meant to improve Bitcoin by bring smart contracts functionality to it. Instead, Vitalik decided to launch ETH in a Blockchain of its own. A good thing for BTC. Otherwise, it would've been heavily-congested and prone to external attacks. It makes wonder which would've been the second-largest crypto by market cap (without ETH in the picture) Litecoin, perhaps? Crypto land behaves in many strange and bizarre ways, so expect the unexpected.

[d5000]

Without ETH, Solana nor any of the many smart contract platforms we know and love today (Binance Smart Chain, Cardano, Flow, Avalanche, etc) would exist.

This is a common myth. There were several developers working on smart contracting features during 2013-15.  The first sucessful mainnet implementation of smart contracts for cryptocurrencies with a Turing-complete language was called Automated Transactions which shipped to Burst (Signum) and Qora in late 2014 and had a very different concept than ETH and the EVM. Ethereum's testnet, however, was started some months earlier. Ripple's XRP had limited Turing-complete capabilities during some time in 2013-14 (I unfortunately lost the link to the topic and it is difficult to find ..) and there was also BitShares with similar goals. The smart contract idea is of course even older (1996 by Nick Szabo, currently the most likely Satoshi candidate on Polymarket lol ).

Ethereum became by far the most popular of them all. It's possible and likely that ETH's approach had also real advantages over other approaches, so it was more influential on the way smart contracts were built. However, as there were many teams working on it, if ETH and Buterin hadn't existed, another smart contract model like AT would have probably occupied its place.

[betswift]

Without ETH, Solana nor any of the many smart contract platforms we know and love today (Binance Smart Chain, Cardano, Flow, Avalanche, etc) would exist.

This is a common myth. There were several developers working on smart contracting features during 2013-15.  The first sucessful mainnet implementation of smart contracts for cryptocurrencies with a Turing-complete language was called Automated Transactions which shipped to Burst (Signum) and Qora in late 2014 and had a very different concept than ETH and the EVM. Ethereum's testnet, however, was started some months earlier. Ripple's XRP had limited Turing-complete capabilities during some time in 2013-14 (I unfortunately lost the link to the topic and it is difficult to find ..) and there was also BitShares with similar goals. The smart contract idea is of course even older (1996 by Nick Szabo, currently the most likely Satoshi candidate on Polymarket lol ).

Ethereum became by far the most popular of them all. It's possible and likely that ETH's approach had also real advantages over other approaches, so it was more influential on the way smart contracts were built. However, as there were many teams working on it, if ETH and Buterin hadn't existed, another smart contract model like AT would have probably occupied its place.

Yeah, it's like saying that without BTC, there would be no other crypto that would take its place: it could be named differently or created not by Satoshi, a bit sooner or later, but it would happen.
Though with ETH, this comparison feels more logical due to the fact that ETH is not the first crypto on that type of scale, it got its place under the sun as the second one.

[YUriy1991]

As for ETH to surpass BTC then there's no way that we could be able to cross out that kind of possibility as this coin/project is really that sitting next to it but of course it will really be that hard to believe
that this could happen considering that the entire community doesnt really like specially on high transaction fees on which this is mainly the complain of people when dealing up with erc20 on which
gas is really that too high. Bitcoin is much more lesser as we do observed, there might be some spike on fees on some time but it doesnt happen all the time.

Maybe the answer is clear enough from your explanation for OP and others to know. The Gas fee in ETH is also a classic story until now and is recognized as still expensive by many users. I think this is enough to prove that ETH is still no. 2. For the type of question asked by OP, I may not know how many times I have read it and it has been explained that it is still very different in terms of price or others.