兰亭-阿萍
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Recently, the cryptocurrency market has experienced remarkable changes, with Ethereum's market cap surpassing that of the traditional consumer giant Coca-Cola. As of May 9, 2025, Ethereum's market cap reached $303.5 billion, successfully overtaking Coca-Cola and rising to the 40th position in the global asset market capitalization rankings.
Following the successful implementation of the Pectra upgrade on May 7, the price of Ethereum surged significantly. From May 8 to May 10, Ethereum's price increased by over 40% within 72 hours, soaring from $1,811 to $2,597.68, with a peak increase of 43%. As of May 11, Ethereum's price fluctuated around $2,540, with a cumulative increase of 39.62% over the past week.
This round of growth is primarily attributed to factors such as technological upgrades, a 'short squeeze' market, and improvements in the macroeconomic environment. The Pectra upgrade introduced important improvements such as a higher staking cap and account abstraction (EIP - 7702 standard), enhancing the usability and flexibility of the Ethereum network, reducing network fees, and instilling confidence in investors. At the same time, starting from May 8, the Ethereum futures market witnessed a 'short squeeze', with large-scale short positions being liquidated, forcing short sellers to buy Ethereum to cover their positions, further driving up the coin price. Additionally, easing global trade tensions, the new trade agreement between the US and UK, and high-level economic talks between China and the US boosted market risk appetite, creating a positive atmosphere for the cryptocurrency market, including Ethereum.
In the past, Coca-Cola, with its vast global consumer market and stable performance, held a long-term high market cap position. As an important representative in the blockchain field, Ethereum has continuously evolved and innovated since its inception, especially in the application of technologies like smart contracts. This market cap surpassing reflects the vigorous development of the cryptocurrency market and investors' high recognition of Ethereum's future potential. The recent Pectra upgrade of Ethereum introduced key improvements such as a higher staking cap and account abstraction, enhancing network performance and user experience, which greatly propelled its market cap growth. This phenomenon also indicates that the digital economy and traditional physical economy are undergoing profound changes in market cap dynamics.
Following the successful implementation of the Pectra upgrade on May 7, the price of Ethereum surged significantly. From May 8 to May 10, Ethereum's price increased by over 40% within 72 hours, soaring from $1,811 to $2,597.68, with a peak increase of 43%. As of May 11, Ethereum's price fluctuated around $2,540, with a cumulative increase of 39.62% over the past week.
This round of growth is primarily attributed to factors such as technological upgrades, a 'short squeeze' market, and improvements in the macroeconomic environment. The Pectra upgrade introduced important improvements such as a higher staking cap and account abstraction (EIP - 7702 standard), enhancing the usability and flexibility of the Ethereum network, reducing network fees, and instilling confidence in investors. At the same time, starting from May 8, the Ethereum futures market witnessed a 'short squeeze', with large-scale short positions being liquidated, forcing short sellers to buy Ethereum to cover their positions, further driving up the coin price. Additionally, easing global trade tensions, the new trade agreement between the US and UK, and high-level economic talks between China and the US boosted market risk appetite, creating a positive atmosphere for the cryptocurrency market, including Ethereum.
In the past, Coca-Cola, with its vast global consumer market and stable performance, held a long-term high market cap position. As an important representative in the blockchain field, Ethereum has continuously evolved and innovated since its inception, especially in the application of technologies like smart contracts. This market cap surpassing reflects the vigorous development of the cryptocurrency market and investors' high recognition of Ethereum's future potential. The recent Pectra upgrade of Ethereum introduced key improvements such as a higher staking cap and account abstraction, enhancing network performance and user experience, which greatly propelled its market cap growth. This phenomenon also indicates that the digital economy and traditional physical economy are undergoing profound changes in market cap dynamics.
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