New ETH Maximum — the $4000 Milestone Reached

Ethereum continues to grow at an incredible pace. It hit a new all-time high of $4,138 today, according to data from CoinMarketCap. This is the second all-time high for Ethereum in the last 24 hours as the first was when ETH hit $4,000 for the first time in its history.

ETH's market capitalization has so far surged to $477 billion, beating the likes of Bank of America, Mastercard, Walmart and Johnson & Johnson.

Now Ethereum is about to leave banking giant JP Morgan behind. Earlier on Saturday, May 8, Ethereum peaked at an all-time high of $3,800, and the total amount of ETH recorded in the Ethereum 2.0 escrow contract surpassed a whopping $ 16 billion, according to Glassnode.

One of the reasons for Ethereum's growth is the fact that institutional investors have turned their attention to this asset. The Coinshares report states that in total, organizations own nearly $14 billion worth of ETH.