Ethereum Passes Bank of America, Wells Fargo in Market Cap as Crypto Hits $3,000

Ethereum Passes Bank of America, Wells Fargo in Market Cap as Crypto Hits $3,000

Ethereum, the world's second largest cryptocurrency, passed Bank of America and Wells Fargo in market cap on Monday as the cryptocurrency surpassed $3,000.

According to CoinDesk, Ethereum has a market cap of $360.15 billion, as of publication time. In comparison, data from the New York Stock Exchange shows that Bank of America currently has a market cap of $350.91 billion and Wells Fargo has a market cap of $186.557 billion.

As Investopedia reported, the market cap of a stock or cryptocurrency refers to a company's outstanding shares of a stock and is calculated "by multiplying the total number of a company's outstanding shares by the current market price of one share."