Ethereum’s market capitalization has soared to $565.2 billion, positioning it as the 22nd largest global asset by market value. This milestone sees the cryptocurrency eclipse traditional finance giants Netflix and Mastercard while narrowing the gap to its 2021 all-time high.
The valuation now rests just 3.7% below Ethereum’s historic peak of $4,878 per token. The rally primarily stems from revitalized investor confidence following encouraging U.S. Consumer Price Index (CPI) data and growing expectations of Federal Reserve interest rate cuts.
Record-breaking inflows into newly launched Ethereum exchange-traded funds (ETFs) have further propelled the asset’s price surge. These developments underscore Ethereum’s expanding footprint in mainstream finance amid accelerating institutional adoption of digital assets.