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Ethereum vs Nasdaq 100 — smart contract platform vs tech-heavy index. Why ETH tracks NDX more than SPX.
| Metric | Ethereum | Nasdaq 100 | Δ |
|---|---|---|---|
| Ethereum Market Cap | $277.61B | — | — |
| Ethereum Price | $2.27K | — | — |
| Ethereum 24h Change | -3.21% | — | — |
| Ethereum FDV | $277.61B | — | +0.0% |
| Ethereum ATH | $4.95K | — | — |
Crypto data live from Sharpe's tracker cache; TradFi values are reference benchmarks updated quarterly.
Ethereum's correlation with the Nasdaq 100 runs higher than with the broader S&P 500 — typically 0.5-0.75 rolling 90-day. Both are tech-beta assets benefiting from the same liquidity and growth-narrative flows. The NDX's aggregate market cap exceeds $25T, anchored by seven megacaps (Microsoft, Apple, NVIDIA, Alphabet, Amazon, Meta, Tesla). ETH at $300B-$500B is a small fraction of NDX but has outpaced it on 5-year total returns. For allocators treating ETH as "tech exposure," the NDX is the more useful reference than the S&P. Both drawn down together in 2022; both rallied together during 2023-2024. ETH's beta to NDX runs ~2.5-3.5x, implying roughly 2.5x amplification of NDX moves during correlated regimes.
Side-by-side crypto comparison with normalized returns
Rolling correlation between crypto and major TradFi benchmarks