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Ether Breaks $500-billion Market Cap For The First Time

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  • Surpassing the $4,000 mark, Ether has now reached a new milestone breaking all its earlier records
  • The coin gained a massive surge of about 30% in the past seven days

Unlike Bitcoin, Ethereum, the second-largest cryptocurrency in the world has broken an all-time high while setting another milestone reaching as high as $4,346. The Market Cap of ether has reached $500billion for the first time in 5 years, breaking all records.

Ethereum is the second-largest cryptocurrency after Bitcoin has broken the all-time record and has hit a major milestone amid the ongoing price rally. The price of Ether has set another milestone and created a history in the Wednesday trading session by breaking all records and reaching as high as $4,346.  

As per the CoinMarketCap, Ether market capitalization has increased to more than $500billion. It touched $505 billion on Wednesday. Surpassing the $4,000 mark, Ether has now reached a new milestone breaking all its earlier records. Ether was trading at a price of $4,317. It raised more than 6.4% in 24 hours. 

Ether gains in Market Capitalization 

The coin is gaining a massive surge of about 30% in the past seven days. It is now bigger than the payment giants Visa and Investment Bank JPMorgan in terms of market capitalization. 

The market valuation of Visa is recorded at $481 billion and JPMorgan stands at $488 billion, according to the data from MarketWatch. Ether is the second-largest cryptocurrency to have hit a valuation of $500 billion-plus in market capitalization after Bitcoin. The coin took less time to incur half-a-trillion-dollar asset. 

The Background

Ether was formed in 2009. Where Bitcoin took 12 years to reach the $500 billion market cap in December 2020, Ether only took 5 years to make its mark, if it is considered that the first version of an Ethereum cryptocurrency protocol which was launched in 2015. 

The ethereum co-founder Vitalik Buterin became a billionaire after Ether’s price rose above the $3,000 mark on May 3. A crypto analyst and co-founder of digital asset investment firm Magnetic, Megan Kaspar ensure that Ether will soon be going to hit between the $8,000 and $10,000 mark by the end of 2021. He had also predicted earlier that the coin will hit $3,400 when the coin was trading at $1,200. 

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