Ethereum surges and overtakes Mastercard on global ranking

Ethereum is on the move and has climbed to the 22nd spot in the global asset rankings. With a market capitalization of $568.06 billion and a price of $4,709, ETH has now surpassed Mastercard.

This 10% increase over the past 24 hours signals a strong revival in the altcoin market, where investors are jumping in to take advantage of the upward trend.

Altseason is taking shape

The market is showing clear signs of rotation. The Altcoin Season Index from CoinMarketCap is up by 8.3% in the past 24 hours to 52 out of 100, suggesting growing momentum outside of Bitcoin. Meanwhile, BTC dominance has slipped slightly to 57.65%, showing that capital is shifting toward other coins.

Ethereum is leading the charge, helped by strong inflows into ETFs (+7.3% in the past week), followed by ARB with a 19.3% gain.

According to analyst Michaël van de Poppe, Ethereum’s strong breakout marks the start of a new phase for altcoins. He describes the move as “gigantic” and is watching two key zones around $4,300 and $4,100 as potential entry points during any pullback. Charts suggest ETH may take a short breather before moving higher.

A gigantic move upwards on $ETH indicating that we’re in for a tear on the #Altcoins.

Looking to get some bounce plays in either of these two regions as I don’t think we’ll continue to go up in one go. pic.twitter.com/W2L3Uq5lMs

— Michaël van de Poppe (@CryptoMichNL) August 23, 2025

Ethereum pulls ahead of big names

With a market cap of $568 billion and 24-hour trading volume exceeding $79 billion, Ethereum is proving it is more than just an altcoin. Compared to traditional companies, ETH has now passed Mastercard and is not far behind the SPDR S&P 500 ETF Trust ($592 billion). Today’s move is a strong signal for long-time Ethereum holders and also for new traders taking this altseason seriously.

Other coins are also enjoying the bullish momentum. Binance Coin (BNB) is nearing its all time high at $885.82, just 1.2% below its peak of $899.77. The altcoin market appears to be fully awakening from its summer slumber.