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.
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.
ETH’s recent price action comes on the heels of a network upgrade that improved the storage of layer-2 scaling data, validator user experience and smart account wallet user experience features.
Ether surpasses Coca-Cola and Alibaba in market capitalization. Source: 8marketcapEthereum implements Pectra upgrade on mainnet
Originally scheduled for March 2025, Pectra faced delays after technical challenges arose