London Daily

Focus on the big picture.
Friday, Aug 22, 2025

Ethereum now more valuable than Visa, JPMorgan Chase; Bitcoin-rival among top five financial services

Ethereum now more valuable than Visa, JPMorgan Chase; Bitcoin-rival among top five financial services

Ethereum has exploded in the past 12 months. The price has increased over 16 times from $206 as of May 7, 2020, to $3,465 as of May 6, 2021, while the market cap has jumped over 17x from nearly $23 billion.
Months after blasting through the top-10 barrier, Bitcoin’s biggest alternative cryptocurrency Ethereum has now marched into the top-5 bracket comprising of the most valuable names in the financial services world. The second-largest cryptocurrency Ethereum, with a market cap of $403.84 billion – nearly half of Bitcoin’s $1 trillion value – is placed right after the market cap of Visa ($504.75 billion) and JPMorgan Chase ($478.49 billion) in the tally of the world’s largest financial services companies topped by Bitcoin, according to the data from CompaniesMarketCap.

“Ethereum has been always been popular among developers specifically because it has provided a platform through which people can create Dapps (Decentralised Apps) and Smart Contracts that enable further blockchain innovation. These innovations have helped spur the growth and creation of tokens and NFTs, and have helped decentralise finance,” Darshan Bathija, CEO of Singapore-headquartered crypto trading platform Vauld told Financial Express Online. NFTs are non-fungible tokes that unlike cryptos cannot be traded for another identical token and are used to represent real-world objects such as a painting or a house etc.

Ethereum has exploded in the past 12 months. The price has increased over 16 times from $206 as of May 7, 2020, to $3,465 as of May 6, 2021, while the market cap has jumped over 17x from nearly $23 billion, according to data from CoinMarketCap. While cryptos cannot be compared to physical enterprises such as Visa, JPMorgan, etc., given that the former is a peer-to-peer software system while the latter is a for-profit business, Ethereum is theoretically the 25th largest asset globally by market cap, showed data from CompaniesMarketCap. The top assets in the list also included precious metals such as gold and silver, and ETFs, apart from public companies.

There are three main reasons Ethereum has been on a tear. First, the utility of Etherium as a global financial settlement layer has gone up significantly. There are now over $77 billion deployed in Etherium-based projects and the number is growing rapidly. This uptick started in June 2020 or what is now called the summer of DeFi and continues to grow. On top of this NFTs and other product innovation on top of Etherium are now starting to see large-scale adoption,” Edul Patel, CEO and Co-founder at automated crypto trading platform Mudrex told Financial Express Online.

The other two reasons are bullish market sentiment as crypto has become the darling of institutional investors with over $14.4 billion flowing into crypto in the past 12 months, said Patel. A majority of this has been driven into Bitcoin and investors are looking to diversify in crypto. Hence Etherium and other coins have seen strong demand that is helping drive up and stabilize the price. Lastly, the major announcement in the past couple of weeks S&P, Grayscale, and others towards building and launching institutional focused funds, according to Patel is helping Etherium boom.
Newsletter

Related Articles

0:00
0:00
Close
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
Taylor Swift on the Way to the Super Bowl? All the Clues Stirring Up Fans
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Apple Expands Social Media Presence in China With RedNote Account Ahead of iPhone 17 Launch
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Cambridge Dictionary Adds 'Skibidi,' 'Delulu,' and 'Tradwife' Amid Surge of Online Slang
Bill Barr Testifies No Evidence Implicated Trump in Epstein Case; DOJ Set to Release Records
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
The CEO Who Replaced 80% of Employees for the AI Revolution: "I Would Do It Again"
Emails Worth Billions: How Airlines Generate Huge Profits
Character.ai Bets on Future of AI Companionship
China Ramps Up Tax Crackdown on Overseas Investments
Japanese Office Furniture Maker Expands into Bomb Shelter Market
Intel Shares Surge on Possible U.S. Government Investment
Hurricane Erin Threatens U.S. East Coast with Dangerous Surf
EU Blocks Trade Statement Over Digital Rule Dispute
EU Sends Record Aid as Spain Battles Wildfires
JPMorgan Plans New Canary Wharf Tower
Zelenskyy and his allies say they will press Trump on security guarantees
Beijing is moving into gold and other assets, diversifying away from the dollar
Escalating Clashes in Serbia as Anti-Government Protests Spread Nationwide
The Drought in Britain and the Strange Request from the Government to Delete Old Emails
Category 5 Hurricane in the Caribbean: 'Catastrophic Storm' with Winds of 255 km/h
"No, Thanks": The Mathematical Genius Who Turned Down 1.5 Billion Dollars from Zuckerberg
The surprising hero, the ugly incident, and the criticism despite victory: "Liverpool’s defense exposed in full"
Digital Humans Move Beyond Sci-Fi: From Virtual DJs to AI Customer Agents
YouTube will start using AI to guess your age. If it’s wrong, you’ll have to prove it
Jellyfish Swarm Triggers Shutdown at Gravelines Nuclear Power Station in Northern France
×