Ethereum Surpasses Coca-Cola, Alibaba, and Hermes with $308 Billion Market Cap
Ethereum Surpasses Major Companies in Asset Rankings
- Ethereum's market value increased by 42% in five days, reaching over $308 billion.
- Price rose from approximately $1,786 on May 7 to $2,549.83 by May 12.
- Ethereum now ranks 39th among global assets, surpassing Coca-Cola and Alibaba.
- Coca-Cola's market cap is around $303.5 billion; Alibaba's is about $303.7 billion; Hermès stands at approximately $296.54 billion.
- The Pectra upgrade introduced improvements for data handling, layer-2 scaling, and validator performance.
- Pectra allows user accounts to function like smart contracts, enabling fee payments with various tokens.
- Validator staking limit increased from 32 ETH to 2,048 ETH for larger stakers.
- Upgrade faced delays due to testing issues but was successfully launched on May 7.
- Ethereum gained over $760 million post-launch, indicating increased market interest.
- Brazil’s B3 Exchange plans to launch Ethereum futures on June 16, enhancing institutional access.
Source: 8marketcap.com