Fintech

Ether passes JPMorgan and Visa to record $500bn market cap milestone

Ether has benefited from a major boom in demand for its network capabilities

Ether has benefited from a major boom in demand for its network's ability to handle smart contracts and other blockchain-based products
Ether has benefited from a major boom in demand for its network's ability to handle smart contracts and other blockchain-based products Photo: Getty Images

Ether has reached a market capitalisation of more than $500bn, making the cryptocurrency worth more than financial heavyweights like JPMorgan and Visa.

Its value rose to as much as $505bn on 12 May, before falling back slightly.

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