Saturday, October 23, 2021
Home Crypto News Market Ethereum Crosses PayPal Market Cap

Ethereum Crosses PayPal Market Cap

- Advertisement -

Ethereum, the world’s second-largest cryptocurrency, reached a market capitalization of $320 billion on Thursday after ETH hit a record high of nearly $2,750.

Ethereum is now more valuable than the payment giant PayPal.



According to the latest data by Coinmarketcap, Ethereum is up more than 12% in the last 7 days. The cryptocurrency has jumped about 3.1% in the last 24 hours. The latest surge in ETH prices came after a increase in retail and institutional demand for the Ethereum.

The total market capitalization of PayPal Holdings is currently around $318 billion, meaning that Ethereum has surpassed PayPal’s total market capitalization.

paypal marketcap

Binance Coin (BNB) and ETH rose significantly during the latest $200 billion crypto market recovery.

Cryptoanalytic company Santiment said on Twitter.

“The dormant ETHEREUM tokens are rapidly moving to justify another historical high, exceeding $2,750 today. With many new ETH addresses being created and inactive tokens cycling rapidly, this is the youngest average investment we’ve seen since July 2018″

 

Last week, the Ethereum 2.0 deposit contract reached $9.1 billion in ETH. According to the latest data released by Etherscan, the ETH network upgrade deposit contract currently has more than 4.2 million ETH worth about $11.2 billion.

CoinShares, one of the leading digital asset managers, recently released its weekly digital asset fund inflows report and highlighted the significant growth in institutional inflows associated with ETH.

Last week, Ethereum investment products raised $34.5 million, as total inflows into ETH investment products reached $793 million since the beginning of this year.

The world’s second-most valuable digital currency is becoming popular with institutional investors, and several organizations around the world have started adding Ethereum to their balance sheets.

- Advertisement -
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Bank Of Israel Aims To Launch Its CBDC On Ethereum

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are...

Russian Central Bank Head Says Russia Is Not Ready To Launch Crypto ETFs

The head of the Bank of Russia, Elvira Nabiullina gave a negative answer to the question about the possibility of trading cryptocurrency ETFs in...

Spanish Banks Anxiously Waiting For Central Bank Approval To Work With Cryptocurrencies

Spanish banks are interested in providing cryptocurrency services directly to clients and expect the Spanish Central Bank will bring regulatory clarity for crypto.

Reddit Intend To Bring Its Non Fungible Token (NFT) Platform

Reddit is looking to hire people for what could become a new platform for non-fungible tokens (NFTs) and digital goods. ...

Second Bitcoin ETF, Valkyrie Bitcoin Strategy ETF (BTF) Started Trading On Nasdaq

On the Nasdaq Stock Exchange under the ticker BTF, a Bitcoin futures ETF from Valkyrie Investments began trading at a price of $25.5.

Transient Raises $1.2 Million in IDO Public Sale to Build the Amazon of Smart Contracts

Tortola, British Virgin Islands, 22nd October, 2021, Transient Network, a Smart Contract Global Marketplace, is thrilled to announce that it has raised $1.2 million...

Binance Smart Chain Is Bringing Fee-Burning Mechanism Like Ethereum

The Binance Smart Chain (BSC) has published a proposal to improve the BEP-95 ecosystem, This new mechanism will be similar to the Ethereum chain...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.