Ethereum has officially entered the elite tier of global assets, ranking within the top 20 by market capitalization. This milestone reflects the growing institutional and public recognition of blockchain-based digital assets as a legitimate and influential class of financial instruments. As decentralized finance (DeFi), non-fungible tokens (NFTs), and Layer-2 innovations continue to mature, Ethereum’s expanding utility and adoption are driving its valuation beyond traditional tech and financial benchmarks.
This article explores the latest developments in the Web3 ecosystem, including DeFi and NFT market trends, major protocol upgrades, and strategic advancements across key blockchain platforms—all while highlighting Ethereum’s rising economic significance.
Ethereum Joins Top 20 Global Assets
According to data from companiesmarketcap, Ethereum’s market cap has reached **$474.98 billion**, surpassing the SPDR S&P 500 ETF Trust and placing it at **20th position** among global assets. It now ranks just below Walmart, which holds a market value of approximately $486.06 billion.
This achievement underscores Ethereum’s transformation from a speculative cryptocurrency into a foundational digital asset with real-world economic impact. The surge—accompanied by a 4.35% daily gain—reflects increased confidence in Ethereum’s long-term viability, particularly as upcoming network upgrades enhance scalability, security, and sustainability.
👉 Discover how Ethereum's growth is shaping the future of decentralized finance.
DeFi Market Overview
Decentralized finance continues to demonstrate resilience and innovation, with key metrics indicating strong user engagement and capital inflow.
Total DeFi Market Capitalization: $114.73 Billion
The total market cap of DeFi tokens stands at over $114 billion, reflecting steady investor interest despite macroeconomic uncertainties. Leading protocols continue to evolve, offering enhanced yield mechanisms, cross-chain interoperability, and improved risk management tools.
24-Hour DEX Trading Volume: $7.3 Billion
Decentralized exchanges (DEXs) recorded $7.3 billion in trading volume over the past day. This high liquidity level suggests robust market activity and growing preference for non-custodial trading environments that prioritize user control and transparency.
Total Value Locked (TVL) in DeFi: $99.15 Billion
The value locked across DeFi protocols has climbed to nearly $99.15 billion, signaling sustained trust in smart contract-based financial services such as lending, borrowing, and automated market making.
These figures highlight the maturation of DeFi as a critical component of the broader crypto economy—one that is increasingly integrated into mainstream financial strategies.
NFT Market Trends
The NFT sector remains a dynamic force in digital ownership and creative expression, with measurable growth across multiple vectors.
NFT Market Capitalization: $58.22 Billion
The total market cap for NFTs now exceeds $58 billion, driven by renewed interest in digital collectibles, gaming assets, and utility-based tokenized items.
24-Hour NFT Trading Volume: $5.97 Billion
Recent trading activity shows a 24-hour volume of $5.97 billion, indicating strong demand across primary and secondary markets. High-performing collections continue to attract collectors and investors alike.
Top NFT Sales in the Last 24 Hours
Data from NFT analytics platforms reveal significant sales activity among premium projects, reinforcing the role of NFTs as both cultural artifacts and digital assets.
NFT Sector Developments
CryptoSlam Raises Strategic Funding to Enhance On-Chain Analytics
CryptoSlam, a leading NFT on-chain data analytics platform founded in 2018 by Randy Wasinger, has secured strategic investment from Spirit Blockchain Capital, a prominent blockchain-focused investment firm. While the funding amount remains undisclosed, the partnership aims to expand CryptoSlam’s capabilities in transaction analysis, trend forecasting, and data aggregation for the broader crypto community.
With increasing demand for transparent and actionable insights, tools like CryptoSlam are becoming essential for investors, creators, and developers navigating the complex NFT landscape.
DeFi Innovation and Governance Updates
Arbitrum Community Votes to Fund Tornado Cash Developers’ Legal Defense
A new governance proposal on Arbitrum’s Snapshot platform calls for financial support of the legal defense of Roman Storm and Alexey Pertsev, core developers behind Tornado Cash—a privacy-focused Ethereum mixer.
The proposal emphasizes that Tornado Cash plays a vital role in protecting user privacy and enabling permissionless innovation. By funding their defense, the community seeks to uphold principles of free software development and personal sovereignty in decentralized systems.
This move highlights the growing intersection between blockchain governance, legal challenges, and digital rights advocacy.
GnosisDAO Unveils Gnosis 3.0 Vision: From Infrastructure to Open Financial Applications
GnosisDAO has announced its Gnosis 3.0 vision, marking a strategic shift from infrastructure provider to an application-layer platform powered by the GNO token.
Originally known for its prediction markets (Gnosis 1.0), the project evolved into Ethereum infrastructure with Gnosis Safe and other tooling (Gnosis 2.0). Now, Gnosis 3.0 aims to bridge blockchain potential with everyday usability, focusing on accessible payment solutions and open financial services.
The roadmap includes deeper integration of GNO across products, enhanced governance models, and expansion into real-world use cases—positioning Gnosis as a catalyst for mass adoption.
👉 Explore how next-gen blockchain platforms are redefining financial access.
BounceBit Launches Testnet with Dual-Token Staking for Bitcoin
BounceBit, a Bitcoin staking chain, has officially launched its testnet. The release introduces several innovative features:
- BounceClub: Early access program for community members.
- BBScan: A block explorer tracking all network activities.
- Dual-Token Staking: Users can stake both BB (native token) and BBTC (Bitcoin-represented token) to earn rewards.
By enabling staking on Bitcoin through secure validation mechanisms, BounceBit aims to unlock yield opportunities without compromising network security—a significant step toward enhancing Bitcoin’s utility beyond store-of-value use cases.
Mirror L2 Announces Public Testnet Launch Within a Week
Mirror L2, a decentralized Proof-of-Stake Layer-2 network for Bitcoin compatible with EVM, will open its testnet to the public within seven days. The network uses BTC as gas and supports smart contracts, bridging Bitcoin’s security with programmability.
Key highlights:
- Open testnet with reward incentives including MIRR call options.
- Ongoing node election process attracting over 100 institutions and KOLs.
- Backed by UTXO, Conflux, and IMO Ventures after completing seed funding.
This development signals growing momentum behind Bitcoin L2 ecosystems aiming to scale functionality while maintaining decentralization.
HashKey Exchange to Support Ethereum’s Dencun Upgrade
HashKey Exchange has confirmed support for Ethereum’s upcoming Dencun upgrade, scheduled for Epoch 269,568 (estimated March 13, 2025 at 21:55 HKT).
To ensure smooth integration:
- ETH, OP, MATIC, and all ERC-20 tokens (including USDT, USDC, UNI, LINK, LDO, AAVE, MKR, COMP, RNDR, SNX, DYDX, SPICE) deposits and withdrawals will be paused starting 21:25 HKT.
- Services will resume once network stability is confirmed post-upgrade.
The Dencun upgrade introduces proto-danksharding—a major step toward reducing Layer-2 transaction costs and improving scalability—further solidifying Ethereum’s position as the leading smart contract platform.
Frequently Asked Questions (FAQ)
Q: What does it mean for Ethereum to rank among the top 20 global assets?
A: It means Ethereum’s market value now exceeds that of major corporations like Tesla and major ETFs. This reflects growing acceptance of blockchain assets in the global financial system.
Q: How is DeFi TVL calculated?
A: Total Value Locked (TVL) measures the amount of cryptocurrency deposited into DeFi protocols for lending, staking, liquidity provision, or other financial activities. It’s a key indicator of ecosystem health and user trust.
Q: Why is privacy important in DeFi?
A: Privacy protects users from surveillance, front-running, and targeted attacks. Projects like Tornado Cash aim to provide confidential transactions on public blockchains.
Q: What is dual-token staking on BounceBit?
A: It allows users to stake both the native BB token and BBTC (a BTC-backed token) simultaneously, increasing capital efficiency and reward potential while securing the network.
Q: How will Ethereum’s Dencun upgrade benefit users?
A: It will significantly reduce transaction fees on Layer-2 networks through data blob technology, making scaling solutions more affordable and accessible.
Q: Can NFTs have real-world utility beyond art?
A: Yes. NFTs are used in gaming (ownership of in-game assets), ticketing, identity verification, intellectual property rights management, and more—expanding their role far beyond digital art.
👉 Stay ahead in the evolving world of Web3 with real-time insights and secure trading tools.