Ethereum Breaches $3,500 For First Time As Experts Look Higher

Ethereum ETH/USD reached new all-time high price levels Tuesday following a great year for the cryptocurrency market.

What Happened: Ethereum breached $3,500 for the first time earlier Tuesday, according to CoinMarketCap data.

The coin's price reached a high of $3,519 after increasing by over 13% from its 24-hour low of $3,114, before settling at $3,267.41 as of press time. 

The news follows the Ethereum network becoming more valuable than the capitalization of Bank of America Corp. BAC on Monday.

At Tuesday's high of $407 billion, Ethereum's market cap also crossed that of Walmart, Mastercard, Home Depot and Nvidia.

The cryptocurrency market overall recently reached a valuation of $2.3 trillion, larger than the market capitalization of any company and possibly any asset except for gold. 

Earlier Tuesday, Dogecoin's market cap reached nearly $54.45 billion — higher than the market caps of Ford Motor F and Kraft Heinz KHC. And that's a crypto asset the creator of which did not expect to go anywhere, as he showed when he sold all of his holdings for enough to buy a used Honda Civic in 2015.