Ethereum spiked nearly 10% in the last 24 hours and reached an all-time high of approximately $4,350. According to the latest data published by Coinmarketcap, Ethereum now has a market cap of more than $500 billion. It is only the second cryptocurrency in the world to reach a market capitalization of $500 billion after bitcoin. Ethereum is now more valuable than the world’s leading investment bank JPMorgan.
ETH has been on the rise since the start of this year.
The second leading cryptocurrency Ethereum has been on the rise since the start of 2021. The cryptocurrency crossed the market cap of the Bank of America and PayPal earlier this year. ETH whale activity has also increased during the last few weeks amid a surge in its price as 46,793 Ethereum moved from a digital wallet to cryptocurrency exchange Binance yesterday. Ethereum top stakeholders have been historically active over the past week, with one 4-hour window on 5 May seeing over 6,300 $100k+ ETH transactions.
Vitalik Buterin becomes one of the youngest crypto billionaires.
The recent price surge in ETH has made Vitalik Buterin, co-founder of the Ethereum network, one of the youngest crypto billionaires after his public Ethereum address crossed 333,520 ETH, approximately $1.4 billion in value. The recent price surge has also spurred Whale transactions. According to the latest data published by Whale Alert, a blockchain tracking and analytics platform, ETH’s record price has accelerated unknown ETH whale transactions. A crypto whale earlier transferred 137,832 ETH to an unknown wallet on 11 May. The total value of the transaction stands at around $560 million. Ethereum investment products saw inflows of $60 million last week, up by 100% compared to the last week of April 2021.