Ethereum (Ether) had the highest market capitalization of $571.67 billion on November 9, 2021. A cryptocurrency's market capitalization is determined by multiplying its current price by the total number of coins or tokens in circulation.
Ethereum had a market capitalization of $80 million on August 8, 2015. On March 12, 2016, Ether reached the $1 billion mark for the first time.
From 2015 to January 2021, the market capitalization of Ether remained well under the $200 billion mark, but from February 2021 Ethereum grew at an unprecedented rate and breached the $500 billion market capitalization mark briefly on October 21, 2021.
On November 9, 2021, Ethereum briefly reached its highest market capitalization of $571.67 billion with a price of $4,815.
Ethereum comes with the ability to build and work on new tools, apps, DeFi (decentralized finance), smart contracts and NFTs. Ethereum is being improved with technological upgrades to the system. The popularity of Ethereum is not just amongst netizens and crypto enthusiasts but also among large corporations, with JP Morgan Chase, UBS, and MasterCard announcing that they were investing $65 million into ConsenSys, a software development firm that builds Ethereum-related infrastructure, the deal was announced in April 2021.
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