Ethereum has achieved a significant milestone in the global financial landscape, with its market capitalization climbing to surpass that of major U.S. corporations, including Netflix, AbbVie, and Costco. According to data highlighted by CoinGecko, Ethereum is now ranked as the 34th-largest asset globally, with a market cap of approximately $389.51 billion.
This development marks a symbolic shift, as Ethereum reclaims a top position among global assets. At the time of the report, Ether (ETH) was trading near $3,234, posting a daily gain of around 1.98%. This price momentum was enough to push its valuation slightly above AbbVie's $389.14 billion, Costco's $388.79 billion, and Netflix's $387.54 billion.
The ranking change is seen as more than a short-term price fluctuation. It reflects growing investor confidence in Ethereum's long-term role as essential digital infrastructure, rather than a purely speculative asset. Market participants are increasingly viewing ETH as a foundational platform for decentralized finance (DeFi), tokenization, and a wide array of blockchain applications.
Several key drivers are credited with supporting Ethereum's recent rally and market cap growth. Increasing staking participation has reduced circulating supply and created sustained buying pressure, rewarding long-term holders. Furthermore, successful network upgrades have improved scalability, lowering transaction costs and encouraging greater developer activity and on-chain usage.
The milestone underscores a broader transition in how markets measure value, highlighting a shift toward programmable and utility-driven assets. While traditional media companies like Netflix rely on subscriber growth, Ethereum's value is anchored in its role as a settlement layer for a vast ecosystem of decentralized applications operating without borders.
Analysts note that Ethereum's position above these household-name corporations reinforces its status as a major global asset. The event demonstrates the network's resilience and its ability to recover and expand during volatile market cycles, with adoption and real economic activity increasingly defining its valuation.
