Ethereum Surpasses MasterCard to Become 22nd Largest Asset by Market Cap

Ethereum has surpassed MasterCard in market capitalization, ranking as the 22nd largest global asset with a market cap of $507 billion. The current trading price is $4,220, with a 24-hour trading volume of $53.5 billion.

Technical Breakout

Analyst Crypto Patel identified a breakout from a multi-year ascending triangle pattern.
Holding above $4,000 confirms the breakout, with a potential target of $16,000 if buying pressure persists.
$3,500–$3,000 identified as a demand zone for potential pullback buying opportunities.
Early investors have experienced gains of approximately 300% during this rally.

Institutional Interest

Ethereum ETFs saw net inflows of $174.57 million in August, contrasting with Bitcoin ETFs, which faced $565 million in outflows.
ETH briefly reached over $4,300 on August 9, marking its highest point since 2021.
Vitalik Buterin suggested companies holding ETH could benefit but advised caution to prevent overexposure.

Market analysts are divided on Ethereum's future trajectory. While bullish indicators and strong fundamentals support continued growth, skeptics warn that false breakouts could occur, emphasizing the need for sustained trading volume above $4,000.