Ethereum surpasses Coca-Cola and Alibaba after its value rises by 42% in 5 days

The market value of Ethereum increased by 42% in five days following the successful launch of the Pectra upgrade on the Ethereum network.

Data tracker "8marketcap" showed that Ethereum (ETH) surpassed Coca-Cola and Alibaba in market capitalization, ranking 39th among the largest assets globally by market value.

The trading price of Ethereum was around $2550, with a market capitalization exceeding $308 billion.

In comparison, Coca-Cola shares are trading at around $70, giving the company a value of $303.5 billion, while Alibaba shares are trading at around $125, with a market capitalization of $303.7 billion.

The recent price movement of Ethereum follows the network upgrade that improved layer 2 data storage and user experience for investigators and features of the smart account wallet user experience.

With the upgrade, external accounts (EOA) can function as smart contracts to cover gas fees and payments using non-Ethereum tokens, enabling better scalability for layer 2 networks.

Source: Cointelegraph