Ethereum Price If It Matches Bitcoin’s Market Cap

Ethereum Price Could Surge 309% to Match Bitcoin’s Market Cap

Ethereum, the second-largest cryptocurrency by market capitalization, has long been considered Bitcoin’s closest competitor. While Bitcoin’s dominance still overshadows Ethereum, crypto investors often speculate about ETH’s potential growth if it reaches Bitcoin’s total market cap. But is this possible?

Ethereum Price Projection if it Matches Bitcoin’s Market Cap

As of September 29th, the ETH price trades at $2,643 with a market cap of $318.2 million. Although it has significant value and widespread utility in decentralized finance (DeFi) and NFTs, Ethereum’s market cap is considerably lower than Bitcoin, which currently stands at $1.298 trillion.

However, with the transition to proof-of-stake, increasing institutional adoption, and substantial inflow to ETH ETFs, the Ethereum price is anticipated to accelerate recovery, making it a prime candidate to challenge Bitcoin’s market dominance someday.

If Ethereum were to match Bitcoin’s market cap of $1.298 trillion, the native cryptocurrency ETH would witness a dramatic rise. Considering Ethereum’s circulating supply of 120,366,230 ETH, the $1.298 trillion target market cap would push the Ether value to approximately $10,785. This potential surge indicates a 309% hike from the current trading price of $2,643.

Vitalik Buterin Outlines Key Principles to Drive Ethereum’s Growth

Vitalik Buterin, the co-founder of Ethereum, has recently outlined a set of guiding principles to ensure alignment within the Ethereum ecosystem. His proposals emphasize:

• Open-source development
• Open standards
• Decentralization
• Security

Buterin also highlighted the need for collaboration and alignment toward Ethereum’s goals and the broader global blockchain community. He stated, “My ideal goal here is to see more entities like L2beat emerging to track how well individual projects are meeting the above criteria.”

These developments, once implemented, would further enhance Ethereum’s appeal in the crypto space, bolstering its potential to match Bitcoin’s market cap.

ETH Price is 20% From Major Support Test

Along with most major altcoins, Ether price showcased a notable correction since late May 2024. The bearish turnaround plunged the asset from $3,974 to $2,649, accounting for a 33% loss.

If the selling pressure mounts, the Ethereum price prediction hints at an 18.7% drop before retesting the major support trendline intact on June 22. Historically, a potential reversal from this dynamic support has doubled the altcoin value, indicating a key accumulation zone.

Conclusion

Ethereum has the potential to match Bitcoin’s market cap due to its active expansion in the DeFi ecosystem and increasing institutional investment. If ETH’s market cap reached $1.298 trillion, the coin value would rise to approximately $10,785.