Ethereum Market Cap – Live Data & Rankings
Ethereum's current market capitalization is approximately $263 billion USD, firmly holding its position as the world's second-largest cryptocurrency by market value. This places ETH significantly ahead of the third-ranked Tether (USDT) at $183 billion, though well behind Bitcoin's dominant $1.33 trillion market cap.
Market cap is calculated by multiplying the current ETH price by the circulating supply of approximately 120 million ETH tokens. With an ETH price near $2,240, the market cap reflects strong institutional and retail interest despite the significant correction from the August 2025 all-time highs.
Ethereum Market Cap Metrics
- Current Market Cap: ~$263 billion USD
- Circulating Supply: ~120.7 million ETH
- 24h Trading Volume: $15–18 billion USD
- All-Time High Market Cap: achieved August 2025 at ~$596 billion
- CoinGecko Ranking: #2 globally
Why Ethereum's Market Cap Matters
Market capitalization is a key metric investors use to compare the relative size and importance of different cryptocurrencies. Ethereum's large and growing market cap signals broad market confidence in the network's utility as a decentralized computing platform, not just a store of value. The introduction of EIP-1559's fee-burning mechanism makes ETH potentially deflationary under high network usage, which could drive market cap appreciation over time.
