Ethereum News Today: Ethereum Surges 43% in a Month, Market Cap Exceeds $435 Billion

Ethereum (ETH) has experienced a significant surge in value, with its market capitalization exceeding $435 billion, surpassing retail giant Costco and healthcare leader Johnson & Johnson. This growth has been driven by a 43% increase in Ethereum's price over the past month, according to CompaniesMarketCap data. The cryptocurrency's market cap has expanded by over $150 billion since the beginning of July.

Ethereum's ascent has positioned it closely behind Mastercard and Netflix in terms of market capitalization. Mastercard is currently valued at over $504 billion, while Netflix stands at approximately $542 billion. This rapid growth highlights Ethereum's increasing prominence in the financial landscape, challenging traditional corporate giants.

The recent rally in Ethereum's value can be attributed to several factors, including widespread market optimism during "Crypto Week," which concluded positively with the House passing three significant crypto bills. Additionally, there has been a notable increase in the accumulation of ETH by institutions and corporations, further boosting its market value.

On the ETF front, US-listed spot Ethereum ETFs witnessed a record $726 million in daily inflows on Wednesday, marking the highest inflow since their launch nearly a year ago. Over the past nine consecutive trading days, the nine Ethereum funds have collectively attracted $2.3 billion, indicating strong investor interest and confidence in the cryptocurrency.

SharpLink Gaming has been actively accumulating Ethereum as part of its strategic initiatives. The company recently expanded its equity offering from $1 billion to $6 billion to support its crypto gaming endeavors and growing ETH reserves, further contributing to the cryptocurrency's market growth.

At the time of reporting, Ethereum was trading at over $3,600, reflecting a 5% daily gain. This price movement underscores the cryptocurrency's robust performance and its potential to continue challenging traditional financial indices and rankings.