The second-largest digital asset doesn’t look to be stopping its meteoric rise anytime soon.

Ether (” data-amp=””>ETH) eclipsed $4,000 for the first time on Monday, passing the psychologically significant barrier on multiple exchanges, including Coinbase. The new milestone comes” data-amp=””>just a week after breaking $3,” data-amp=””>.

ETH/USD 4-hour candle chart (Coinbase). Source: TradingView

Last week,” data-amp=””>ETH overtook Bank of America stock as the 28th-largest asset in the world. But at $454.49 billion as of today, ETH has now eclipsed the market capitalization of consumer-staples giants Wal-Mart and Johnson and Johnson, and it is knocking at the door of JPMorgan Chase — the largest United States bank by assets under management.

Part of the rise may be linked to increasing institutional interest in the asset. Last week, a CoinShares report said that” data-amp=””>institutions bought over $30 million in ETH at the end of April. Money managers are thought to now own $13.9 billion in ETH or ETH vehicles.

Likewise, there have been significant strides in adoption. On April 28, the European Investment Bank announced that” data-amp=””>it would be issuing a $120 million bond on Ethereum, the world’s largest layer-one blockchain, in collaboration with major banking entities such as Goldman Sachs. Additionally,” data-amp=””>the growth of decentralized finance — one of Ethereum’s key communities and use cases — continues at a remarkable pace.

However, the most bullish catalysts on the horizon are a pair of major infrastructure upgrades to the network: EIP-1559 and Ethereum 2.0. EIP-1559, now scheduled to be” data-amp=””>included in the “London” hard fork, will include an overhaul of the Ethereum fee structure and is expected to decrease gas costs significantly while also potentially making ETH a more deflationary asset.

Eth2, in turn, will transition the network to a proof-of-stake consensus model, which is expected to decrease sell pressure and encourage holding the asset.

The remarkable run has even prompted” data-amp=””>renewed speculation that there could be a “flippening” on the horizon — a long-anticipated event among the Ethereum community in which ETH overtakes Bitcoin (” data-amp=””>BTC) in market capitalization.