Ethereum (ETH) Surpasses $500B, Beats Visa, Crushes Bitcoin Market Dominance Further
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ETH, the native token of the leading smart contracts platform, Ethereum, continues to maintain its meteoric surging trend, beating records and surpassing notable values in its quest to prove that it’s capable of overthrowing the flagship cryptocurrency, Bitcoin (BTC).

Ethereum (ETH) Surpasses $500 Billion for the First Time in History

Ethereum (ETH) continues to hit milestones in terms of market capitalization as its price increases. A few hours ago, Ethereum surpassed the $500 billion market cap for the first time in history after its price surged to record a new all-time high of $4,351 at 3:55 a.m. UTC.

Read Also: Analyst Who Called $3,400 for Ethereum (ETH) Says $10,000 Is Next before the End of 2021

In the course of the notable price surge, Ethereum was able to attain a local peak of $504 billion.

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Ethereum (ETH) Now Worth More than Visa

Due to the newly recorded price milestone, Ethereum is now bigger than the financial services giant, Visa, which started facilitating transactions in USD Coin (USDC) on the Ethereum blockchain a couple of weeks ago.

According to CompaniesMarketCap, Visa’s market capitalization currently stands at $496.13 billion, which is billions of dollars away from Ethereum’s recent peak.

Read Also: Ethereum (ETH) Hits $3,000 All-Time High for the First Time in History

Ethereum (ETH) Surpasses $500B, Beats Visa, Crushes Bitcoin Market Dominance Further

Due to this notable price surge since the beginning of the year, it’s worthy of note that Ethereum is now bigger than a number of companies and assets such as Johnson & Johnson, Walmart, Mastercard, NVIDIA, Bank of America, PayPal, among others.

Palladium with a market capitalization of $518.87 billion is now the next asset for Ethereum (ETH) to beat, which could play out as soon as possible, considering the current positive price trend of the top cryptocurrency.

Ethereum Continues To Reduce Bitcoin’s Dominance

The renewed rally showcased by Ethereum (ETH) continues to crush the dominance of Bitcoin (BTC) in the market.

Read Also: Ethereum (ETH) Surpasses Platinum Market Cap, Approaching Top 30 Most Valuable Asset in the World

According to CoinMarketCap, the market share of Bitcoin has now plunged to 42% from relatively 74% in early January, thanks to the consistency of Ethereum’s price upside trend.

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Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.