Ether Touches $500B Market Cap for First Time, Overtaking JPMorgan and Visa

Ether (ETH), the native cryptocurrency of the Ethereum network, passed the market cap milestone of $500 billion Wednesday morning.

Ether's total value climbed as high as $505 billion before pulling back slightly, according to CoinMarketCap data, surpassing financial behemoths JPMorgan ($480 billion) and Visa ($496 billion).
The milestone came as the cryptocurrency's price hit an all-time high of $4,371, per CoinDesk 20 data.
At press time, ETH is priced at $4,262 with a market cap of $493.65 billion.
Bitcoin (BTC) passed the $500 billion milestone in late December 2020 before hitting $1 trillion in February 2021. So ether's market cap is now approaching the 50% mark of bitcoin's.
Greg Magadini, CEO of Genesis Volatility, has described a $1 trillion ETH market cap as a "no brainer."

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Consensus

03

20

06

02

Ether Touches $500B Market Cap for First Time, Overtaking JPMorgan and Visa

The milestone came as ether hit an all-time high of over $4,370.

10 Years of Decentralizing the Future