Ethereum (ETH) Topples VISA,Samsung and JPMorgan With New All-Time High of $4300

Published May 12, 2021 | Updated May 12, 2021

In Brief
  • Ethereum is now the 16th most valuable global asset in the world.
  • The ETH price rally over the last two weeks has seen massive whale activity and improvement in on-chain fundamentals.

Ethereum (ETH) Topples VISA,Samsung and JPMorgan With New All-Time High of $4300

  • Ethereum is now the 16th most valuable global asset in the world.
  • The ETH price rally over the last two weeks has seen massive whale activity and improvement in on-chain fundamentals.

A day after slipping below $4000 during a market-wide rally, the world’s second-largest cryptocurrency Ethereum (ETH) has bounced back strongly today to hit a new all-time high of $4300. At press time, ETH is trading 10.59% up at a price of $4300 with a market cap of $500 billion.

On its journey, Ethereum has smashed past some new records today. As per data by Infinite Marketcap, Ethereum (ETH) has now outgrown some of the biggest global conglomerates like Samsung and JPMorgan Chase. Interestingly. Ethereum has also outgrown financial giant VISA by a hairline margin which has $496 billion valuations as of date.

Courtesy: Infinite Marketcap

The mega bull run in Ethereum (ETH) has helped the cryptocurrency outgrow some of the biggest financial and tech companies in recent times. At these valuations, Ethereum (ETH) becomes the 16th most valuable asset class in the world.

Many analysts are expecting that Ethereum (ETH) would continue its price rally further this year. some even predicted that ETH will touch the $10,000 milestone by the end of 2021. This will make it the second cryptocurrency, after Bitcoin (BTC), to grab a spot in the top-ten global assets by size.

Ethereum On-chain Fundamentals Showing Strength

While the ETH price continues to rally over the last two weeks, its on-chain fundamentals metrics have improved simultaneously. As CoinGape reported, Some of the Ethereum network metrics like total transaction rate, smart contract calls, Uniswap transactions, etc. have shown positive developments.

As on-chain data provider Santiment reports, Ethereum (ETH) whale transactions have been at an all-time high over the last week.

Ethereum (ETH) continues to outperform the world’s largest crypto Bitcoin (BTC) by gaining more strength every single day. At its current price, ETH gains in 2021 so far stand at a massive 500% while that Bitcoin is 100%. Thus ETH clearly outclasses BTC performance by a margin of 5:1 in percentage returns.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Bhushan Akolkar 520 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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