Ethereum Market Cap Tops Costco; Crypto Market Hits $4T
Ethereum market cap surged past retail giant Costco to about $230 billion, marking a key milestone as the global crypto market cap climbed above $4 trillion for the first time. The rise in Ethereum market cap underscores growing institutional and retail interest, following net inflows totalling $172 million last week—led by $114 million into Bitcoin and $58 million into Ethereum funds. The inflows sent Bitcoin near $66,000 and Ethereum above $4,000. CME Bitcoin futures open interest hit a record $27.5 billion, signalling robust institutional demand. Major altcoins also advanced: Solana rose 10% and Cardano 6%. Analysts attribute the rally to high-profile ETF filings, US regulatory clarity, smart-contract adoption and network upgrades like the Shanghai hard fork. Traders are watching ETH price action for potential entry and exit points, as stronger macro factors support further upside.
Bullish
News of Ethereum market capitalization surpassing a major corporation and the global crypto market cap breaking $4 trillion underscores robust institutional and retail demand. Last week’s net inflows into Bitcoin and Ethereum funds, coupled with record CME Bitcoin futures open interest, signal strong buying pressure. In the short term, positive momentum and active ETF filings typically spur momentum-driven trades and may push ETH price higher as traders chase gains. Over the longer term, ongoing network upgrades like the Shanghai hard fork, growing DeFi adoption and clearer US regulations enhance Ethereum’s fundamentals. These factors collectively support a bullish outlook for ETH, suggesting sustained upside potential.