Ether (ETH), the second largest cryptocurrency after Bitcoin (BTC), has achieved a significant success today with its ongoing rally.
Ether broke the record by reaching $ 4,346 on May 12, according to CoinMarketCap data. The market value of crypto money also exceeded $ 500 billion for the first time, approaching $ 505 billion.
ETH first crossed the $ 4,000 limit on May 10. Ether, which has gained 9 percent value in the last 24 hours, is trading at $ 4,290 as of the time of translation broadcast. Crypto money has increased by 27 percent in the last seven days.
After its parabolic rise, Ether surpassed names like payment giant Visa and investment bank JPMorgan in terms of market capitalization. As of the time of translation, Visa’s market value is $ 481 billion and JPMorgan’s market value is $ 488 billion, while Ether has a market value of $ 496 billion.