Ethereum’s Market Cap Surpasses Mastercard Amid Increased Accumulation and Bullish Predictions

• Ethereum’s market cap is now $523 billion, surpassing Mastercard’s $519 billion.

• A mysterious entity has bought 221,166 ETH in just one week.

• Technical analysts predict ETH could reach $20,000 in the coming months.

Ethereum’s market cap has reached $523 billion, surpassing Mastercard, as a mysterious entity accumulates Ether aggressively. Read more to find out the details.

What is Ethereum’s Current Market Capitalization?

Ethereum’s market capitalization is currently $523 billion, surpassing Mastercard’s $519 billion. This significant milestone comes after a 21% rally in Ether’s price, which now trades at $4,332.

How Has a Mysterious Entity Impacted Ether’s Price?

A mysterious entity has been accumulating Ether aggressively, purchasing 221,166 ETH over the past week. This buying spree has contributed to the recent price surge, as the entity utilized six different wallets to store its assets.

Frequently Asked Questions

What factors contributed to Ethereum’s market cap increase?

The increase in Ethereum’s market cap is attributed to a 21% price rally and significant purchases by institutional investors, including a mysterious entity.

How much Ether has the mysterious entity accumulated?

The entity has accumulated 221,166 ETH, valued at approximately $212 million, over the past week.

Key Takeaways

• Ethereum’s market cap is now $523 billion: This surpasses Mastercard’s market cap.
• A mysterious entity is buying Ether: 221,166 ETH purchased in one week.
• Analysts predict a bullish trend: Some expect ETH to reach $20,000 in the near future.

Conclusion

Ethereum’s recent market cap surge to $523 billion highlights its growing influence in the financial landscape. With significant institutional investments and bullish predictions from analysts, the future looks promising for Ether. Investors should remain cautious, as market dynamics can shift rapidly.

Ethereum’s market capitalization currently sits at $523 billion, overtaking global payment cards firm Mastercard.

An unidentified entity has been accumulating Ether (ETH) aggressively over the past week — buying 221,166 ETH as the asset rallied by 21% over the same time frame.

In the past 24 hours alone, the “mysterious institution” bought $212 million of Ether according to data analytics platform Lookonchain.

The whale tracker said the entity is using six different wallets to store its Ether, which it acquired from Galaxy Digital, FalconX and BitGo. The wallet with the most Ether has $181 million worth, while the wallet with the least Ether still has $128 million worth.

The buying comes as Ether addresses with over 10,000 ETH in holdings reached 868,886 on Saturday, the highest it’s been in a year, according to Glassnode.

Source: Lookonchain

Ethereum market cap overtakes Mastercard

It also comes as Ethereum’s market capitalization soared to $523 billion on Monday, boosted by a 21% rally in Ether over the past seven days to cross the $4,000 milestone. It is currently trading at $4,332.

Ether’s market cap also overtakes payments giant Mastercard, which currently has a market capitalization of $519 billion, according to CompaniesMarketCap.

More than 304,000 ETH, worth over $1.3 billion, was added by publicly traded companies that have Ether treasuries in the past week, CoinGecko reported on Saturday.

BitMine Immersion Technologies bought the lion’s share of ETH, as the company bought more than 208,000 ETH, worth more than $900 million, in the past week, which was followed by SharpLink Gaming buying $303 million worth of Ether.

Analysts bullish on ETH’s price action

Technical analysts have also turned bullish on Ether, with some predicting that the asset might reach as high as the $20,000 mark for the first time in the coming months.

Analyst Nilesh Verma stated that ETH can hit the $20,000 milestone in the next six to eight months based on historical price fractals.

Meanwhile, Merlijn The Trader, a popular technical analyst, has predicted that the asset might surpass $20,000 and may even go beyond that mark.

On the flip side, some industry experts are cautioning investors.

Notably, Ethereum co-founder Vitalik Buterin supported companies that are buying Ether to hold in their respective treasuries; however, Buterin cautioned that it should not turn into an “overleveraged game,” which could lead to the downfall of the asset.

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