Ethereum Finally Flips Bitcoin — But Not in the Way You Think
Ethereum's silent takeover just rewrote the crypto rulebook—while Bitcoin maximalists were busy counting satoshis.
The Scaling Revolution
Ethereum's layer-2 ecosystems now process more daily transactions than Bitcoin's entire network—without the legacy chain's congestion drama. Validators are raking in fees while miners face margin calls.
Developer Tsunami
Over 4,000 dApps now call Ethereum home versus Bitcoin's sparse DeFi experiments. The smart contract machine became the economy Bitcoin promised but never delivered.
Institutional End-Run
Wall Street's ETH-backed ETFs attracted more net inflows last quarter than Bitcoin products—turns out finance prefers programmable assets over digital gold narratives.
Ethereum didn't just flip Bitcoin's market cap. It built the financial infrastructure Bitcoin's anarchist roots never allowed. The king isn't dead... but it's wearing new clothes. (And yes, traditional bankers still don't get either—but at least they're overpaying for ETH derivatives now.)
Ether Treasury Race to The Top
BitMine is now one of the most widely traded stocks in the US, the firm reported earlier this week. According to data from Fundstrat, the stock has traded an average daily dollar volume of $6.4 billion, ranking tenth in the US, it added. Stock traders have been touting the asset since Lee took over and started stacking ETH.
The shares have surged more than 1,100% since late June when the Ether treasury was announced.
$BMNR HAS +100% UPSIDE IN THE NEXT 6 MONTHS
This stock had lots of attention brought to it after Tom Lee hoped on board.. The company is a duplicate of $MSTR however instead of compounding $BTC, its holds $ETH $ETH is the Core of the blockchain and with the growth of… pic.twitter.com/OTkThzsH8m
— StockTrader_Max (@StockTrader_Max) August 20, 2025
BitMine is the world’s largest Ether treasury company and the world’s second-largest crypto treasury firm with 1.5 million ETH worth around $6.5 billion, according to SER. Additionally, the volume flipping doesn’t seem to be limited to stock trading.
Weekly spot trading volumes for ETH just hit an all-time high compared with BTC, observed analyst ‘Crypto Gucci’ on Wednesday. Ethereum traded nearly three times the volume of Bitcoin over the past week, they said before adding, “The flippening isn’t theory anymore, it’s playing out in real time.”
Weekly spot trading volumes for $ETH just hit an all time high vs $BTC
Ethereum traded nearly 3x the volume of bitcoin over the past week
This is no longer Bitcoin’s market
The liquidity, the momentum, the energy
It’s all moving to #Ethereum
The flippening isn’t theory… pic.twitter.com/M3znpwQkdj
— Crypto-Gucci.eth ᵍᵐ (@CryptoGucci) August 20, 2025
It was also reported this week that the amount of ETH on centralized exchanges has dropped to its lowest level in nine years.
ETH Price Recovers
Ether prices have started to recover from this week’s pullback, gaining 2.8% on the day to reclaim the $4,300 level.
The asset fell to a fortnightly low of just below $4,100 on Wednesday, but markets are starting to recover today.
More volatility could be ahead as all eyes are now focused on Federal Reserve Chair Jerome Powell’s speech at Jackson Hole on Friday.
