As its price finally surpassed the $3,000 mark, the total market capitalization of Ethereum (ETH) has soared along, overtaking some of the world’s largest financial institutions, such as Bank of America (BoA) and Mastercard (NYSE: MA).
The market cap of Ethereum stood at $366.13 billion at press time on March 24, in comparison, the market worth of BoA was $347.51 billion, while that of Mastercard was $337.12 billion, as per information acquired by Finbold from CompaniesMarketCap.com.
It should be noted that only one bank efficiently resisted yielding to Ethereum, as things stand. Namely, JPMorgan Chase had a market cap of $412.74 billion at the time of publication.
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Ethereum is one of the largest cryptocurrencies by market capitalization, second only to Bitcoin (BTC), which currently has an impressive market value of $816.74 billion, recording a steady weekly climb.
Ethereum market cap analysis
As of late, the market cap of Ethereum was also measuring significant movements upward, as it stood at $331 billion only one week ago – an increase of 10.47%.
It’s worth mentioning that Finbold had reported in mid-March on the massive, $20 billion inflow into Ethereum’s market cap, indicating the DeFi asset’s road to recovery after a period of trading in the red.
Ethereum has also recorded a massive outflow from various crypto exchanges over the past weeks, resulting in the lowest levels of the popular cryptocurrency on exchanges since September 2018.
Ethereum price analysis
The price of Ethereum has successfully managed to overcome the $3,000 mark, around which it hovered for the past several days.
At the time of publication, it traded at $3,046, recording a 24-hour increase of 3.11%. Seven days before, the token’s price was $2,767, which means that it had increased 10.1% over the week’s course, judging by the CoinMarketCap statistics.
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