Ethereum Market Cap Surpasses Alibaba After Pectra Upgrade

Ethereum Market Cap Surpasses Alibaba After Pectra Upgrade

Ethereum surpassed Alibaba with a market cap of $306.68 billion after the Pectra upgrade and a price rally. This event highlights Ethereum’s growth spurred by the upgrade, affecting its position in global market capitalization rankings.

Following the successful deployment of the Pectra upgrade , Ethereum’s market cap surged to $306.68 billion. This milestone temporarily placed Ethereum ahead of Alibaba and Coca-Cola in global rankings. Vitalik Buterin, Co-founder of Ethereum, stated, “The Pectra upgrade was key to this milestone, with core developers overcoming earlier testnet implementation issues and delays to finalize the upgrade on May 7, 2025.”

Institutional Interest in Ethereum Rises Amid Surge

The market capitalization surge has bolstered Ethereum’s reputation within the crypto community and broader markets. Institutional interest has been reportedly heightened, though direct evidence of Abraxas Capital’s $500M purchase is yet unverified.

The rally has demonstrated Ethereum’s significant impact on the DeFi ecosystem, with increased activity and total value locked across protocols. Analyst commentary suggests lasting implications for Ethereum governance and scalability.

Impact of Previous Upgrades on Ethereum’s Standing

In prior instances, Ethereum has overtaken major corporates post-upgrades like EIP-1559 . These transitions have consistently triggered institutional engagement and DeFi expansion, echoing the current scenario.

Analysts predict that Ethereum could maintain its competitiveness as further network enhancements occur, with long-term implications for Layer 2 solutions and DeFi integrations.

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