Ether (ETH), the native cryptocurrency of the Ethereum network, passed the market cap milestone of $500 billion Wednesday morning.
Ether’s total value climbed as high as $505 billion before pulling back slightly, according to CoinMarketCap data, surpassing financial behemoths JPMorgan ($480 billion) and Visa ($496 billion).
The milestone came as the cryptocurrency’s price hit an all-time high of $4,371, per CoinDesk 20 data.
At press time, ETH is priced at $4,262 with a market cap of $493.65 billion.
Greg Magadini, CEO of Genesis Volatility, has described a $1 trillion ETH market cap as a “no brainer.”