📈 Is Ethereum Still in a Supercycle?

While ETH lags in price, usage across L1 and L2 is booming — from stablecoins to tokenized treasuries. Critics say it’s outdated; bulls call it early. Plus: Trump-Xi summit, XRP ETF milestone, and ZCash’s shocking comeback.

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Cryptopolitan News
October 27, 2025 • Estimated Reading Time: 9 minutes

ETH is still in a supercycle? Let’s break it down

Tom Lee, the cofounder of Fundstrat Global Advisors, chairman of BitMine and one of Wall Street’s loudest crypto bulls argues that Ethereum remains in a supercycle, despite its price lagging behind fundamentals.

Discussing Ethereum on CNBC Overtime, Lee said that activity across the cryptocurrency’s Layer 1 and Layer 2 solutions is ramping up at a much faster clip than its price on the market suggests.

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Ethereum is getting so much usage and growth on its L1 and L2 due to stablecoins, but it isn’t reflected in price. It does take time.

Instead, Lee called it a situation where fundamentals are driving value, not the other way around. He cited record stablecoin demand, the booming RWA tokenization and institutional engagement as evidence that the network’s next leg up is being built under the radar.

Market doubts and rival narratives

Not everyone agrees. Crypto fund Mechanism Capital’s Andrew Kang termed the “supercycle” thesis “financially illiterate”, which has lambasted and he argues Ethereum required structural reform to compete with faster blockchains such as Solana where stablecoin settlements have gone exponential in 2025.

Even crypto skeptic Peter Schiff weighed in, stating that “Investors who have not yet exited Ether should get out now.”

Long-term conviction holds

Again, Lee himself and his firm BitMine have doubled down during the bear market, he says it grew its liquid position to 3.23 million ETH (one of the largest in any category among institutional investors worldwide).

Even Rich Dad Poor Dad writer Robert Kiyosaki supported the move, writing:

“People who buy Ethereum at $4,000 right now will probably be like people who bought Bitcoin at $4,000.”

Lee and his camp see Ethereum’s price as catching up. The fundamentals, they say, are already in motion, and the supercycle hasn’t even begun to really ramp up yet.

📊 Market Watch

1️⃣ Trump–Xi Summit sets stage for global markets

All eyes are on Gyeongju, South Korea, where President Trump is expected to meet Chinese President Xi Jinping this Thursday: their first face-to-face of Trump’s second term.

Prediction site Kalshi gives it a 94% chance of happening, with over $6 million bet on the outcome. Treasury Secretary Scott Bessent said both sides have reached “a very substantial framework” that could halt Trump’s planned 100% tariffs on Chinese imports.

Talks will span rare earths, oil, semiconductors, and trade frameworks, but analysts warn the truce may only buy time before deeper tensions resurface.

2️⃣ Markets jump on fed cut & big tech earnings

U.S. futures are rising on Oct.29 Fed rate cut hopes, and positive Big Tech Q3 earnings. According to CME FedWatch, there's a 96% chance of rates being slashed down to the range of 3.75–4.00%.

Crypto absorbed the snap-back, turning around and cleaning out $160M worth of shorts as Bitcoin (+1.6%) Ethereum (+2.8%) bounced. Analysts say expectations of a U.S.-China trade thaw and fresh liquidity are driving the move, even as gold is testing that floor of $4,070 in its steepest pullback in months.

3️⃣ XRP ETF Surges Over $100 Million AUM as CME Launches Options

The REX-Osprey XRP ETF (XRPR), the first U.S. spot XRP fund, has crossed $100 million AUM, confirming surging institutional demand. CME Group followed with XRP options, adding to its thriving futures market, now at 567,000 trades ($27 billion notional).

 📉 Chart our analyst is watching

ZCash has achieved what few altcoins have this year, it has wiped seven years of bearish momentum and rallied back up over $370, the last time prices were at these levels was 2018.

Volumes traded surpassed 1.6 Billion, and ZEC is now ranked #35 by market cap, more than fifty places higher than the position it was at earlier in this year.

ZEC has rallied about 163% since we first flagged it in our newsletter, outperforming most altcoins during a risk-off market.

The move has been fueled by:

  • Shorts’ liquidations — more than $5.9M cleared on Binance in 24 hours.

  • Privacy coins on the rotation— total sector cap $14.8 billion.

  • Adoption growth — 4.89M ZEC sitting in shielded pools, which restricts available exchange supply.

 🐤 Top Tweets

Monday headline picks

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💸 Trader’s Corner

James Wynn, the crypto trader who famously turned a $7,600 PEPE bet into $25 million has revealed that he’s now heavily betting on XRP, claiming it’s the project that could “revolutionize banking systems.”

The turnaround represents Wynn’s return to markets, after declaring a self-imposed exit from the “perps casino.” He had made educational trades on Hyperliquid before and at one stage was “up” more than $87M before the losses came and he was left down to $13M.

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