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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."

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