Ethereum, the world’s second-most valuable cryptocurrency, touched the market cap of $320 billion on Thursday after ETH registered an all-time high of nearly $2,750. Ethereum is now more valuable than payments giant, PayPal Holdings.
According to the latest data published by Coinmarketcap, Ethereum is up by more than 11% in the last 7 days. The cryptocurrency jumped approximately 3% in the last 24 hours. The latest surge in the price of ETH came after a massive jump in retail and institutional demand for the cryptocurrency.
The overall market cap of PayPal Holdings currently stands at around $318 billion, which means that Ethereum has crossed the total market cap of PayPal. Binance Coin (BNB) and ETH have surged significantly during the latest $200 billion crypto market recovery.
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“Ethereum’s dormant tokens are moving rapidly to justify yet another All-Time High above $2,750 today. With many new ETH addresses being made and dormant tokens cycling rapidly, this is the youngest average investment we’ve seen since July 2018,” crypto analytics firm, Santiment mentioned on Twitter.