Ether, the native cryptocurrency of the Ethereum [ETH] network, surpassed the market cap milestone of $500 Bln Wednesday morning.
Ether’s total value climbed as high as $505 Bln prior to pulling back slightly, consistent with CoinMarketCap data, surpassing financial behemoths JPMorgan [$480 Bln] and Visa [$496 Bln].
The milestone came as the cryptocurrency’s price hit an all-time high of $4,371 USD, according to CoinMarketCap.
At the reporting time, Ethereum is priced at $4,262 with a market cap of $493.65 Bln.
Bitcoin passed the $500 Bln milestones in late December last year prior to hitting $1 trillion earlier in February this year.
The CEO of Genesis Volatility, Greg Magadini, has described a $1 trillion Ethereum market cap as a “no brainer.”