Ethereum Surpasses Netflix in Market Cap as ETH Eyes Record Highs

Move over, streaming—Ethereum just flipped Netflix in market valuation. The crypto heavyweight isn't just playing in the big leagues; it's rewriting the rules.

ETH's bull run leaves traditional giants in the dust

No slowdown in sight as institutional money piles into DeFi's backbone. Meanwhile, Wall Street still can't decide if crypto is 'digital gold' or a 'Ponzi scheme'—classic hedge fund indecision.

Key drivers? Institutional adoption, Layer 2 scaling, and that sweet, sweet yield farming frenzy. The merge? Old news. The real story is ETH eating traditional finance's lunch while Netflix struggles with password-sharing crackdowns.

One question remains: When do we start calling ETH 'the new blue-chip'—or does that label already belong in the legacy finance museum?

What’s Pushing Ethereum’s Market Cap?

ETH’s latest rally comes amid a larger crypto market rebound. The market rally is likely due to the lower-than-expected Consumer Price Index (CPI) figures for the month of July. Low CPI numbers have boosted hopes for an interest rate cut in September. Many experts anticipate the Federal Reserve to slash rates by 25 basis points next month. Lower interest rates may lead to investors taking on more risks as borrowing becomes easier.

ETH’s rally may have also been propelled by consistent ETF inflows. Institutional money has been a key driver for the crypto market in this cycle. Bitcoin (BTC) and ethereum (ETH) have led the ETF inflows over the last few months. ETH recently saw record inflows of more than $1 billion in one day.

New All-Time High Soon?

ETH may hit a new all-time high very soon if it continues its current trajectory. According to a Cointelegraph X post, Standard Chartered has increased its ETH price target to $7500 by the end of this year. Hitting $7500 from current price levels will translate to a rally of nearly 60%.

JUST IN: Standard Chartered raises $ETH forecast to $7,500 by end-2025 from $4,000, and to $25,000 by 2028. pic.twitter.com/3J0q44B9a5

However, given the fragile global economy, there is a chance that investors will take caution before putting their money in the crypto market. ETH has already seen some liquidations as it nears a new all-time high. Investors may begin to book profits. Such a scenario could lead to the asset facing a correction.