These past couple of weeks have been very promising for Ethereum in terms of price boost, and the institutional adoption also seems to be on the rise. The very reason for this is a decrease in gas prices that has led to some stability in terms of transaction fees, and traders are just bustling on Ethereum’s blockchain, making mad trading taking the average volume for the daily trades to an all-time high. The systematic up in Ethereum’s price has allowed its overall market cap to skyrocket as well, and as of yesterday, it has left pretty famous conglomerates behind, such as P&G, Nestle, and now MasterCard as well; it is not a hoax, as you can verify the values for yourself. The upward movement for Ethereum might continue as it has yet to account for the bearish calibration at the end of the bull run; until then, a lot of feats might get accomplished by Ethereum.
Ethereum’s Market Cap has Taken Down various Conglomerates
At present, the market cap of Ethereum is at $380 billion and counting, and if the cryptocurrency carries on at the same speed, then it is possible that shortly it might reach equivalent to if not surpassing Visa finance service. Something similar happened back in November when the flagship cryptocurrency took a heavy charge and was able to outweigh Mastercard’s market cap while trading merely at $18k, and later on, when it reached an all-time high of $61.7k, Bitcoin was able to surpass the cumulative market cap of both MasterCard and Visa, and now Ethereum is filling in its footsteps.
But it doesn’t mean that like Bitcoin, Ethereum is going to set new price records as it is highly unlikely, but the kind of run Ethereum is having at the moment, it is pretty much possible that it is going to increase way too much in terms of the overall price and such. Many financial institutions, analysts, and investors have already favorited Ethereum over Bitcoin, and they are hoping for big things for Ethereum, but this is the crypto market we are talking about; sentiments don’t have any value here whatsoever. However, it is possible that Ethereum might continue scaling the price factor as long as the bull run sticks with it.