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

price-chart-trader
12 May 2021

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."

See also: Market Wrap: Yearn, EOS Rise Over 30% While Ether and Bitcoin Eke Out Small Gains

Disclosure
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.

Read more

Ether Ethereum