Ethereum (ETH) has just reached a new milestone in its history: the cryptocurrency now ranks 22nd among the world’s largest market caps, ahead of Netflix and Mastercard. This rise further solidifies Ethereum’s position on the global stage and has not gone unnoticed by major investors.
Ether surpasses Netflix and Mastercard in market capitalization
According to data from the afternoon of Monday, August 11, Ethereum now has a market capitalization of €445.06 billion: the world’s second-largest cryptocurrency has climbed to 22nd place among the world’s largest market caps. This marks a first for the blockchain launched in 2015 by Vitalik Buterin—who has once again become a billionaire thanks to ETH—and his co-founders.
Ether has thus surpassed Netflix (€444.76 billion) and Mastercard (€442.99 billion), but remains behind pharmaceutical giant Eli Lilly (€500.88 billion), whose stock price is plummeting today. It is worth noting that Bitcoin ranks 6th in the list (€2.06 trillion), neck and neck with Alphabet Inc., Google’s parent company.
ETH is thus officially among the top 25 global market caps, a realm previously reserved for tech and financial giants and precious metals. However, the exact ranking between Ethereum, Netflix, and Mastercard may still shift, and to maintain its position, Ethereum’s price must remain stable.
This jump in the rankings is not all that surprising given Ether’s upward trend over the past few weeks, with Ethereum’s price rising by +17% over the last seven days and volatility surging.
Joseph Lubin believes Ethereum could surpass Bitcoin in market capitalization “within a year”
Ethereum’s rise is also fueled by an influx of capital: inflows into spot Ether ETFs accelerated last week thanks to institutional investors. These positions are not purely speculative: several companies are bolstering their treasuries with ETH, in line with what we observed with Bitcoin during previous bull runs.
Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, is, for his part, more than optimistic about Ethereum. He believes the cryptocurrency could surpass Bitcoin in market capitalization. In an interview with CNBC last week, he explained: “Ethereum could surpass Bitcoin in market capitalization in the coming year,” citing “the growing influence of corporate treasuries” as the main driver.
In reality, just to reach Bitcoin’s current market capitalization level, the price of Ether would need to be around $20,000. A very bold prediction, then. But Joseph Lubin is optimistic about the use of Ethereum, which he believes will continue to grow, particularly in decentralized finance, stablecoins, and asset tokenization… Only time will tell.
