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 progress further consolidates Ethereum’s place on the world stage and has not gone unnoticed by large portfolios.
According to data from Monday afternoon, 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 capitalizations. This is a first for the blockchain launched in 2015 by Vitalik Buterin, who has become a billionaire thanks to ETH, and his co-founders.
Ether has thus overtaken Netflix ($444.76 billion) and Mastercard ($442.99 billion), but remains behind pharmaceutical giant Eli Lilly ($500.88 billion), whose share price is falling sharply today. Bitcoin ranks sixth in the ranking (€2.06 trillion), neck and neck with Alphabet Inc, Google’s parent company.
ETH is now officially in the top 25 of the world’s largest market capitalizations, a zone previously reserved for tech giants, financial institutions, and precious metals. However, the exact hierarchy between Ethereum, Netflix, and Mastercard may still vary, and to maintain its position, Ethereum’s price must remain stable.
This jump in the rankings is not so surprising when you look at the upward trend of Ether in recent weeks, with the price of Ethereum rising by +17% over the last seven days and volatility rising sharply.
Joseph Lubin believes Ethereum could surpass Bitcoin in market capitalization “within a year.”
Ethereum’s rise is also being fueled by an influx of capital: inflows into Ether spot ETFs accelerated last week thanks to institutional investors. These positions are not purely speculative:
several companies are strengthening their cash reserves in ETH, in line with what we saw with Bitcoin during previous bullish waves.
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 cash companies” as the main driver. In reality, just to reach Bitcoin’s current market capitalization, the price of Ether would have to be around $20,000. It’s a very bold prediction. But Joseph Lubin is optimistic about the use of Ethereum, which he believes will continue to grow, particularly in decentralized finance, stablecoins, asset tokenization, and more. Only time will tell.
