Ethereum (ETH), the leading altcoin, has now surpassed leading streaming behemoth Netflix (NFLX) and payments giant Mastercard (MA) by market capitalization.
It is now on the cusp of topping American multinational pharmaceutical juggernaut Eli Lilly.
Ethereum’s relentless rally
On Tuesday, the price of ETH topped the $4,600 level for the first time since December 2021. It has now extended its rally, reaching an intraday high of $4,682 on Wednesday.
The altcoin is now just inches away from reaching a new record high for the first time since November 2021. It would need to rally by roughly 5% in order to achieve such a feat, which appears to be doable considering how strong the altcoin’s current momentum is.
$10,000 in 2025?
According to Polymarket bettors, there is now a 59% chance that Ether will hit the $5,000 level for the first time this August.
The altcoin also has a 28% chance of surging to as high as $5,400 during the remainder of this month.
Notably, Polymarket bettors also believe that there is a 12% chance that ETH will soar to as high as $10,000 in 2025.
ETH uberbull Tom Lee recently predicted that the altcoin could skyrocket to $16,000 during the current bullish cycle.
Zeroing in on SPDR S&P 500 ETF Trust
Ethereum (ETH) is also on track to surpass the SPDR S&P 500 ETF Trust (SPY), which boasts $589.84 billion in assets.
Ethereum exchange-traded funds (ETFs) have also been on a tear with their streak of inflows.
According to data provided by SoSoValue, spot ETH ETFs logged another $523 million worth of inflows. On Monday, they logged more than $1 billion in one-day inflows for the first time.
