The market value of Ethereum exceeded US$500 billion for the first time

The market value of the world’s second largest cryptocurrency Ethereum (ETH) exceeded US$500 billion for the first time , and the price also reached a new high of US$4,360.

According to data from CoinMarketCap, on May 12th, mainstream currencies gradually recovered after experiencing a collective decline. Among them , the price of Ether hit a record high again, soaring to $4,360. The company’s market value briefly exceeded US$500 billion, reaching US$505 billion .

Price of one Ether

Naijatechnews learned that on May 10, ETH reached a price level of more than $4,000 for the first time, and has continued to grow substantially since then.

As of press time, the trading price of ETH is 4,279.64 US dollars, an increase of 5.79% in the past 24 hours.

In addition, ETH is the second cryptocurrency to reach a market capitalization of $500 billion after Bitcoin . It took only 5 years , while the latter took 12 years.