Ethereum’s Market Cap Surpasses Mastercard

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Ethereum’s market capitalization of $440 billion has surpassed that of Mastercard ($427 billion), making it the second-largest cryptocurrency. This surge comes amidst increased speculation about the SEC’s approval of Ethereum exchange-traded funds (ETFs). Bloomberg analysts have raised the approval odds to 75%, increasing the possibility of changes in the SEC’s stance. If Ethereum ETFs are approved, they could witness prompt adoption, which would, in turn, surge Ethereum’s value. In the last 24 hours, Ethereum’s price surged by 16.2%, while Bitcoin added 6%. However, Ethereum remains 25.4% below its all-time high of $4,878.