Ethereum Market Cap Falls Below $400 Billion After 10.6% Drop in 24 Hours

Key Takeaways:Ethereum’s market capitalization has fallen below $400 billion, currently at $392.85 billion.The drop marks a 10.6% decline in the past 24 hours amid broad crypto market weakness.ASML has now overtaken Ethereum in global market capitalization rankings, pushing ETH to 36th place worldwide.Ethereum Slips as Crypto Market CorrectsAccording to ChainCatcher, Ethereum’s market capitalization fell sharply to $392.85 billion, slipping below the $400 billion mark for the first time in weeks.The decline reflects broad-based sell pressure across the crypto market, as Bitcoin and major altcoins experience similar double-digit losses.ETH Loses Global Market RankingWith the latest drop, Ethereum has been overtaken by Dutch semiconductor giant ASML, falling to 36th place among the world’s largest assets by market capitalization.Analysts note that Ethereum’s relative weakness is tied to high liquidation volumes and risk-off sentiment following hawkish comments from the U.S. Federal Reserve.Market OutlookDespite the recent correction, analysts remain cautiously optimistic that Ethereum could stabilize once broader macro pressures ease.Long-term fundamentals — including Layer 2 adoption, ETF prospects, and staking yields — continue to underpin institutional interest in ETH, even amid short-term volatility.