FameEX Hot Topics | Ethereum Reaches $3.2K, Surpassing Bank of America’s Market Cap

Ethereum’s market cap has surpassed that of Bank of America, as the SEC considers spot ETH ETF options and DeFi gains further traction. On November 10, Ethereum, the second-largest cryptocurrency by market cap, hit $3,200—its highest since August—while Bitcoin also reached a new peak of $79,000 following Donald Trump’s U.S. election victory.

According to CoinMarketCap, Ethereum’s market cap now stands at approximately $383 billion, marking a 5% increase in 24 hours and positioning it roughly $40 billion above Bank of America. This milestone reflects a shift in financial market dynamics, with blockchain and crypto adoption outpacing some aspects of traditional finance (TradFi).

This development signals the growing prominence of decentralized finance (DeFi) and crypto assets as the U.S. Securities and Exchange Commission evaluates the potential for spot ETH ETFs. Ethereum has seen its largest weekly price surge since May, driven by Bitcoin’s own record-breaking trajectory toward new all-time highs.

Crypto analysts on platform X share varied views but collectively anticipate further price growth, with many predicting Ethereum will soon reach new all-time highs. Analyst Poseidon noted a similar pattern, expecting an “initial pullback before the new ATH” and forecasting Ethereum could exceed the $4,300 mark.

Meanwhile, Ethereum co-founder Vitalik Buterin introduced “info finance” on November 9. Buterin described info finance as a framework that begins with a specific question and culminates in a market designed to extract the optimal answer from participants, leveraging the wisdom of the crowd.

Buterin advocated for using prediction markets to gather community insights on future events, providing a public expectation without the influence of media bias. This approach, he suggests, could enhance the objectivity and reliability of market-based predictions, adding a new layer to Ethereum’s potential applications.

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