It's look overdue, I think ETH by now should be in the $2k region as bitcoin has broken $40k barrier already. The current spike though was due to MicroStrategy's latest investing on ETH as well, so it was well taken news that's why the price just surpasses another all time high.

So there's no surprises here, at least in my case, this should happen last year. But we are all good, so $2k will be the next obvious target for ETH and it's just a matter of time before it can breach it. And with regards to the Market Cap, not a fan of it though, good to compare with other companies but crypto is very different though, it is very much volatile.