Ethereum's Path to Supremacy: Can it Outshine Bitcoin?

Tom Lee, chairman of BitMine and co-founder of Fundstrat, believes ETH can reach $60,000 in five years and has a 50% chance of flipping Bitcoin. However, despite Ether's recent success, it must reckon with Bitcoin's status and "Ethereum killers." The cryptocurrency's price against Bitcoin has been steadily declining since 2018, and its uncapped supply limits its potential to surpass Bitcoin.

Ethereum has been making waves in the crypto market with its recent performance, setting new records in transaction volume and price. In August 2025, Ethereum (ETH) recorded an all-time high of 48.22 million monthly transactions, with 1.8 million daily transactions in the last 24 hours [1]. This surge in activity is part of a broader trend that saw Ethereum's transaction volume across the mainnet reach $320 billion, marking its third-largest month ever [1].

Tom Lee, chairman of BitMine and co-founder of Fundstrat, has been vocal about Ethereum's potential. He believes that Ether will eventually surpass $60,000 in the long term and has a 50% chance of flipping Bitcoin [1]. However, despite these optimistic predictions, Ethereum faces significant challenges in surpassing Bitcoin's status.

One of the key hurdles for Ethereum is its uncapped supply, which limits its potential to outperform Bitcoin. Ethereum's price against Bitcoin has been steadily declining since 2018, and this trend has not been reversed despite the recent surge in activity [1]. Additionally, the cryptocurrency market is filled with "Ethereum killers," new projects that aim to improve upon Ethereum's technology and potentially steal its market share [2].

Ethereum's recent success is also driven by strong institutional demand. Companies are accumulating ETH in their treasuries, and U.S. spot ETH ETFs are drawing in significant inflows [1, 3]. However, this increased demand has led to a sharp decline in ETH reserves on exchanges, signaling a potential supply shock [3].

Despite these challenges, Ethereum's recent performance is a clear indication of its growing dominance in the crypto market. Its on-chain data shows a significant increase in monthly transactions and a strong rally in its price [1]. As Ethereum continues to innovate and adapt, it may be able to overcome its limitations and solidify its position as a leading cryptocurrency.

References:
[1] https://www.cryptopolitan.com/ethereum-usage-peaks-transaction-volume/
[2] https://www.cryptotimes.io/2025/09/05/ethereum-monthly-spot-volume-surpasses-bitcoin-trading/
[3] https://beincrypto.com/3-altcoins-declining-cex-reserves-in-the-1st-week-of-september/