Ethereum (ETH), the queen of the market has achieved a new all-time high by crossing $3,000 for the first time. Ethereum established its all-time high at $3,200. At the time of writing, ETH coin stands at a price level of $3,164. The price of the cryptocurrency has increased by 9% in the past twenty-four hours while the daily trading volume has gone up by 20%.
Now with the new ATH of the cryptocurrency and a higher current trading price, the market capitalization of Ethereum stands at $366 billion – increasing by 9%. According to the largest global assets’ ranking by Infinite Market Cap, Ethereum has moved up four places in the list. Ethereum is now ranked higher than the Bank of America which have a market capitalization of $347 billion. Along with Bank of America, Ethereum has also surpassed the market capitalization of corporate giants like Proctor & Gamble, Nestle, PayPal etc. Currently, Ethereum stands at a ranking of 24th in the list.
With the performance of ETH coin going up, the old debate about Ethereum taking over Bitcoin as the largest digital asset has been rekindled. Institutional interest in the cryptocurrency has also been skyrocketing ever since the new ATH has been established by ETH crypto. The decentralized finance sphere has been becoming more relevant with Ethereum as the unofficial pioneer of it. Institutional giants like European Investment Bank and Goldman Sachs are getting more involved in the ETH blockchain.
As the price of ETH coin crossed $3,000, it made a lot of people very rich. The co-founder of Ethereum, Vitalik Buterin, has officially become a crypto billionaire. The public wallet of the ETH co-founder holds around 333,500 Ether which are now worth around $1.029 billion. Buterin could possibly be the youngest self-made billionaire in the cryptocurrency industry .