The disaster is now thought to be equivalent in size to the Gulf of Mexico oil disaster.
New government figures estimate up to 700,000 cubic metres (184 million gallons) of industrial waste has leaked from a collapsed reservoir in the northern town of Ajka.
The BP oil spill amounted to more than 757,000 cubic metres (200 million gallons).
The sludge, a by-product in the manufacture of aluminium, inundated three villages before it reached the Danube on Thursday.
Earlier today, the spill's fifth victim was announced as a 79-year-old man who died from injuries he sustained when the toxic residue flowed into Devecser.
Hungary's Prime Minister Viktor Orban said the crisis was now "under control" - but Greenpeace has warned the waste contained "surprisingly high" levels of arsenic and mercury.
Speaking at a news conference in Austria, charity representatives said the detected arsenic concentration was twice that normally found in so-called "red mud".
Analysis of water in a canal also found arsenic levels 25 times the limit for drinking water.
However, the pH level of the sludge is now thought to be around 8.2, not far off the neutral water level, which is between six and eight.
Tibor Dobson, a spokesman for the disaster crews, said: "This data gives us hope ... and we have not experienced any damage on the main Danube so far."
Officials were also hoping this means the spill will not spread beyond the country's borders.
Read more: Seven Dead In Hungary From Red Sludge
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