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.
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 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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