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.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.