Key Takeaways
- Ethereum leapt ahead of Netflix and Mastercard as its market cap topped $565 billion.
- The second-largest crypto asset is now only 4% away from its all-time high.
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Ethereum outpaced Netflix and Mastercard in market capitalization as the digital asset rallied past $4,700 for the first time since November 2021.
Ethereum’s market capitalization has risen above $565 billion, exceeding Netflix’s $520 billion and Mastercard’s $519 billion, making it the world’s 22nd largest asset, according to CompaniesMarketCap.
ETH is also ahead of Bitcoin in year-to-date growth at 40% versus 29%, although Bitcoin still leads ETH in one-year returns, according to TradingView data. The second-largest crypto asset is currently trading at $4,680, approximately 4% below its all-time high of $4,868.
The bullish momentum comes amid a sustained Ethereum buying spree by publicly traded companies.
In recent weeks, BitMine Immersion and SharpLink Gaming have been among the most aggressive acquirers, with their combined ETH holdings now worth more than $8 billion.
Others are also joining the race, such as ETHZilla, backed by Peter Thiel’s investor group, Fundamental Global, which is targeting a 10% stake in the Ethereum network, and The Ether Machine, among others.
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