Ethereum Flips Mastercard in Market Cap, Eyes on Visa Next
- Ethereum has now surpassed Mastercard’s market valuation by around $15B.
- This comes after ETH soared by 20% amid optimism about spot ETF approval.
- If ETH cracks its ATH $4,891, its market cap will exceed that of Visa by $17B.
In a significant development, Ethereum, the second-largest cryptocurrency by market capitalization, has eclipsed the market valuation of Mastercard, a global leader in payment processing.
According to recent data, Mastercard’s market capitalization stands at $427.3 billion, reflecting a modest decline of 0.13% over the past 24 hours. Meanwhile, Ethereum’s market capitalization now exceeds $441.8 billion.
This surge comes after Ethereum’s price rallied by over 20% within the last few hours, reaching a two-month high of $3,714. While Ethereum has experienced a slight correction, settling at $3,678 at the time of writing, its market valuation remains comfortably ahead of Mastercard’s by $14.5 billion.
The significant uptick in Ethereum’s price can be partly attributed to growing optimism surrounding the SEC’s approval of pending applications for Ethereum spot ETFs.
Specifically, the SEC ha…
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