The milestone came as ether hit an all-time high of over $4,370.
- Ether, 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 the CoinDesk 20.
- At press time, ETH is priced at $4,262 with a market cap of $493.65 billion.
- Bitcoin 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."
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
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