Ethereum bursts into list of top 100 assets in the world by market cap

Ethereum bursts into list of top 100 assets in the world by market cap

A 13% rise in the price of ETH over the past 24 hours has propelled Ethereum onto a list of the top 100 traded assets by market cap for the first time, as measured by CompaniesMarketCap.com. 

Ethereum marched past 12 other entries on the list today and is currently positioned in the #88 spot, between Bristol-Myers Squibb at #89 and Anheuser-Busch at #87.

Ethereum bursts into list of top 100 assets in the world by market cap

Up 62% in 2021 alone, the price of ETH crossed $1,200 today for the first time since Jan. 2018 and appears poised to overtake its all-time high set Jan. 13 of that year. This year’s gains translate into a $53 billion increase in Ethereum’s market cap, enough for it to overtake the market cap of several household conglomerates, including Wells Fargo, AstraZeneca, Philip Morris, Morgan Stanley, and Citigroup.

Ethereum entered the top 100 assets by market
Source: https://t.co/oDzWrvLl2b pic.twitter.com/63zrsalRfH

— CompaniesMarketCap.com (@CompaniesMarke1) January 6, 2021

Bitcoin — the only other cryptocurrency on the top 100 list — has also been on a tear through the rankings, surpassing Visa, Berkshire Hathaway, Alibaba and most recently Tencent, to move up to the #10 spot. With an estimated market cap of $12.19 trillion, gold sits atop the list by a margin of $10 trillion; its next closest competitor being Apple, at #2.

Ethereum bursts into list of top 100 assets in the world by market cap

Similar to CoinMarketCap.com (though not associated with them), CompaniesMarketCap.com primarily tracks the valuations of publicly traded companies around the world and lists them in order of market cap size. The website’s “Top Assets by Market Cap” page arranges the market caps of companies, precious metals, ETFs and cryptocurrencies into a single list.

However, different assets are not necessarily directly comparable. The calculation for a market cap is traditionally determined by multiplying the price of a stock by its total number of shares, but in the case of cryptocurrencies, the market cap is determined by multiplying the price of a coin by its total supply. Precious metal market caps are measured by multiplying their price by total tonnage of supply, and therefore are only estimates.

For Ethereum to surpass Bitcoin in the market cap rankings, it would have to increase five fold in price to $6,100 while BTC remained the same price (ignoring supply change differences between now and then).

Title: Ethereum bursts into list of top 100 assets in the world by market cap
Sourced From: cointelegraph.com/news/ethereum-bursts-into-list-of-top-100-assets-in-the-world-by-market-cap
Published Date: Thu, 07 Jan 2021 05:02:09 +0000

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Clint Lewis

Clint Lewis –Business I am Clint Lewis I have finished my four-year college education in English writing and I hold a master’s degree in Business from Stanford University. Writing about business and finance is in great interest. I have great command overwriting due to my five-year experience which incorporates articles, web substances, and web journals. I generally love to play with work, in both my profession and education.  I additionally had teaching experience of 2 years at the eminent college to show business and specialized composition and presently, I am working as an educator and preparing writer and creator. I am unimaginably social, and I love to travel and investigate the world.

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