Ethereum (ETH) has surpassed Mastercard to become the world's 22nd largest asset by market capitalization, with a market cap of approximately $521.9 billion compared to Mastercard's $519.1 billion. This milestone places Ethereum ahead of other major companies including Netflix, JPMorgan Chase, Walmart, and Tesla, as well as silver as an asset class. The rise of Ethereum reflects growing demand from institutional investors and corporate treasury buyers, contributing to a broad rally in digital assets. Joseph Lubin, co-founder of Ethereum, has indicated on CNBC that he expects Ethereum could overtake Bitcoin in market capitalization within the next year, which would require ETH to reach around $20,000 per token given Bitcoin's current market cap.