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Ether’s market cap surged 42%, surpassing Coca-Cola and Alibaba after Ethereum implemented the Pectra upgrade, improving layer-2 scaling and validator features.
Ether’s market capitalization surged 42% in five days following the successful launch of Ethereum’s Pectra upgrade on its mainnet.
On May 12, the company data tracker 8marketcap showed Ether (ETH) surpassing Coca-Cola and Alibaba, ranking as the world’s 39th-largest asset by market capitalization. ETH was trading at about $2,550 at publication time, with a market cap exceeding $308 billion.
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By comparison, Coca-Cola stock trades at around $70, giving it a market cap of $303.5 billion. Alibaba stock trades at about $125, with a market capitalization of $303.7 billion.