Ethereum Surpasses Coca-Cola and Alibaba in Market Cap After Pectra-Fueled Price Rally

Ethereum market cap has surpassed Coca-Cola and Alibaba following its Pectra upgrade, hitting $308B with ETH now ranked the 39th-largest asset globally.

Ethereum (ETH) has made headlines once again—this time for overtaking global giants Coca-Cola and Alibaba in market capitalization following the successful launch of its long-awaited Pectra upgrade.

According to data from 8marketcap, ETH is now ranked the 39th-largest asset in the world, climbing to a value of $2,550 and reaching a market capitalization exceeding $308 billion. This performance pushes Ethereum ahead of Coca-Cola, which sits at $303.5 billion with shares priced around $70, and Alibaba, valued at $303.7 billion with shares trading at $125.

The milestone comes on the back of one of Ethereum’s most significant price moves in recent history. In just five days—from May 7 to May 12—ETH surged from $1,786 to $2,550, according to CoinGecko. This represents a powerful vote of confidence from investors reacting to the positive implications of Ethereum’s latest network evolution.

The Pectra upgrade, a major technical enhancement, introduces new features aimed at scalability and usability. Among its improvements are enhanced account abstraction, streamlined validator options, and efficient transaction handling, making Ethereum more flexible for both developers and institutions.

Despite the euphoria, the upgrade has also raised technical concerns. Arda Usman, a well-known Solidity auditor, issued warnings about potential vulnerabilities introduced by Pectra. Specifically, he pointed to a new transaction mechanism that might allow malicious manipulation of externally owned accounts (EOAs) without requiring on-chain signature validation. Such a mechanism could open the door to unauthorised fund access through off-chain signed messages—a potential security gap that may warrant urgent review.

Still, these technical risks have not dampened market sentiment. Ethereum’s sharp ascent signals not just speculative enthusiasm, but a broader shift in how the market values smart contract platforms as foundational infrastructure in the emerging Web3 economy.

With its current standing, Ethereum is not only rivaling tech and financial giants—it’s redefining what counts as global value in the digital era.

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