Ethereum’s Market Cap now Surpasses Bank of America and Mastercard

Ethereum’s market cap surpasses some large financial firms

Ethereum’s market capitalization has skyrocketed as its price finally topped $3,000, surpassing some of the world’s largest financial firms, including Bank of America and Mastercard.

According to CompaniesMarketCap.com, the market cap of Ethereum was $363.35 billion at press time on March 24, while the market caps of Bank of America and Mastercard were $347.83 billion and $339.31 billion, respectively.

Ethereum is one of the most valuable cryptocurrencies in terms of market capitalization. Bitcoin has the highest market cap with $816.33 billion and still increases steadily.

After three weeks of decrease, the price of ETH has reached a high of $3,000 today. After 2 weeks under the pine, Bitcoin also

EIP-1559 has burnt 2 million ETH. The next protocol change for the blockchain is “the merge” from Proof-of-Work to Proof-of-Stake. With the consequences of EIP-1559 and lower emissions from transitioning to Proof-of-Stake, ETH might become a deflationary asset very soon.

EIP-1559 was created to improve Ethereum’s fee market because Ethereum gas fees previously used an auction method, which made transaction prices unpredictable. EIP-1559 requires users to pay a minimum cost for transactions known as the “base fee,” as well as an optional tip to miners in order for their transaction to be processed quickly during periods of heavy congestion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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