As the price of Ethereum (ETH) eventually topped $3,000, the overall market value of the cryptocurrency rose, surpassing some of the world’s biggest financial organisations, including Bank of America (BoA) and Mastercard (NYSE: MA).
Ethereum’s market capitalization was $366.13 billion at press time on March 24, whereas Bank of America’s market capitalization was $347.51 billion and Mastercard’s was $337.12 billion, according to data obtained by Finbold from CompaniesMarketCap.com.
It’s worth noting that, at the moment, just one bank has successfully resisted Ethereum adoption. JPMorgan Chase, for example, had a market capitalization of $412.74 billion at the time of publishing.
Ethereum is one of the major cryptocurrencies in terms of market capitalization, second only to Bitcoin (BTC), which has a market cap of $816.74 billion and has been steadily increasing in value over the last week.
Recently, Ethereum’s market cap has been trending higher, having reached $331 billion only one week ago — a gain of 10.47 percent.
It’s worth noting that Finbold reported in mid-March on Ethereum’s big $20 billion market cap influx, showing that the DeFi asset is on the mend after a spell of trading in the red.
Ethereum has also seen a significant outflow from multiple cryptocurrency exchanges in recent weeks, culminating in the popular cryptocurrency’s lowest values on exchanges since September 2018.
Ethereum’s price has successfully surpassed the $3,000 threshold, which it had been hovering around for many days.
At the time of publishing, it was trading at $3,046, a gain of 3.11 percent over the previous 24 hours. Seven days before, the token’s price was $2,767, a gain of 10.1 percent over the previous week, according to CoinMarketCap figures.