FameEX Hot Topics | Ethereum Hits $3.2K, Overtaking Bank of America in Market Cap

Ethereum’s market cap has recently surpassed Bank of America’s as the SEC reviews spot ETH ETF options and decentralized finance (DeFi) gains momentum. On November 10, Ethereum, the world’s second-largest cryptocurrency by market cap, reached $3,200—its highest since August—while Bitcoin also hit a new peak of $79,000 following Donald Trump’s U.S. election win.

Ethereum’s market cap now stands around $383 billion, according to CoinMarketCap, representing a 5% rise in just 24 hours and positioning it about $40 billion above Bank of America. This marks a significant shift, with blockchain adoption accelerating past some traditional finance metrics, underscoring crypto's growing influence in global markets.

This surge signals the increasing importance of DeFi and crypto assets, particularly as the U.S. Securities and Exchange Commission considers spot ETH ETFs. Ethereum’s price saw its largest weekly gain since May, fueled in part by Bitcoin’s push toward new all-time highs, which has also uplifted Ethereum’s market sentiment.

Crypto analysts on platform X are split but optimistic about Ethereum’s price trajectory, with many expecting new all-time highs. Analyst Poseidon forecasted an “initial pullback before the new ATH,” suggesting Ethereum could eventually surpass $4,300.

On November 9, Ethereum co-founder Vitalik Buterin introduced the concept of “info finance,” describing it as a method that begins with a question and uses market dynamics to extract the optimal response from participants, harnessing crowd insights.

Buterin advocates for using prediction markets to gather unbiased community expectations on future events, without the sway of media influence. This innovative approach could add a new layer of utility to Ethereum, expanding its applications in data-driven, crowd-informed forecasting while enhancing objectivity and reliability in market predictions.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.