The market capitalization of Ethereum has surpassed that of all altcoins in the crypto market, marking the first time since February 2021.
With a current market cap of $213.8 billion, Ethereum has overtaken major altcoins like Solana, Cardano, and Dogecoin, solidifying its dominance after a span of over 28 months.
One key factor behind Ethereum’s market cap success is its first-mover advantage, similar to Bitcoin, as the platform pioneered smart contracts and has consistently operated with high reliability.
This reliability has led to broad adoption, with projects like Aave and Maker relying on Ethereum to manage billions of crypto assets. The platform’s decentralization and security have made it the backbone of the DeFi and NFT sectors.
Ethereum’s dominance in DeFi and NFTs is evident through the substantial value locked in its DeFi protocols, amounting to over $25.2 billion, representing more than 50% of DeFi’s total value locked (TVL) as of June 20.
The platform’s extensive community engagement is supported by a global network of validator nodes, ensuring security and decentralization. Currently, there are 623,096 live validators securing the Ethereum network, reinforcing trust and reliability.
