Ethereum (ETH) has achieved a significant milestone by surpassing global payments giant Mastercard in market capitalization.
The blockchain network’s market valuation now stands at $519.48 billion, exceeding Mastercard’s market cap of $519.19 billion. This positions Ethereum among the world’s leading assets.
This rise follows a robust market performance, with the price of ETH increasing by 6.99% over the last 24 hours, contributing to a strong rally observed over the previous 30 days.
Sustained high trading volume was evident, reaching $38.09 billion within the same 24-hour window, indicating active market participation.
The growth of decentralized finance (DeFi) and non-fungible tokens (NFTs), sectors largely built upon the Ethereum blockchain, has been fundamental in driving its market position upwards.
Looking forward, increasing institutional interest coupled with ongoing developments focused on network scalability and efficiency holds the potential to further elevate Ethereum’s standing within the global asset hierarchy.