Ethereum is now on a list of the top 100 assets in the world by its market cap. Due to the gain, ETH has managed to get in 24 hours and has been getting ranked among Bitcoin among others.
A news publication on Cointelegraph has claimed that Ethereum ETH is not among the world’s top 100 assets by market cap. Due to the 13% rise in ETH over the last two days, Ethereum is on a list of the world’s top 100 assets by market cap.
This was measured by CompaniesMarketCap.com. Ethereum ETH was able to wad off other entries onto the list quickly. At the moment, it is ranked 88th in its market cap. ETH is in between Anheuser-Busch at 87th and Bristol-Myers Squibb at 88th.
CryptoGator.co is a crypto and Forex news aggregator that had this to tweet about the current scenario.
Ethereum bursts into list of top 100 assets in the world by market cap: Ethereum’s recent gains saw it join Bitcoin on an exclusive list among the world’s biggest… https://t.co/tb0QOeoAXL | https://t.co/FHLhKCQA7o | https://t.co/FHLhKCQA7o #cryptocurrency #Bitcoin #Forex pic.twitter.com/6qhUsw3BTG
— CryptoGator.co | Crypto and Forex News Aggregator (@eBargainsToday) January 7, 2021
In the year 2021, ETH has managed to gain more than 61%. Today, the price of the ETH was around $1200. This happened for the first time since January 2018. That is more than two years ago, which is a promising sign.
Thanks to that gain, it shows leads of going to be able to reach the $50 billion market cap this year alone. ETH market cap is good enough to run above several common names in the world. A few of them include Philip Morris, Wells Fargo, AstraZeneca, Citigroup, and Morgan Stanley.
While these were popular names in the market, the other common name was Bitcoin. Ethereum has managed to give it to some company. Bitcoin is also on the top 100 assets globally that can perform in its rankings.
Bitcoin has been able to flawlessly move past the likes of Berkshire Hathaway, Visa, Alibaba, and more. It has reached the 10th spot, which should sound incredible for investors this year. Bitcoin has a colossal market cap of close to $12 billion.
That figure is more than gold, which was considered the most valuable commodity in the world. Bitcoin has today proved itself worth. The next closest to Bitcoin or a worthy competitor could be Apple, at the number 2 spot.
CompaniesMarketCap.com is another portal that specializes in the tracking of traded firms and organizations globally. They have also listed ETH and Bitcoin based on their market cap value. They have listed the commodities according to their firms, precious metals, cryptocurrencies, and ETFs.
Market analysts have refrained from comparing the assets. They feel that it does not have to be compared to know their value. The values of different assets can vary with time. History has shown that to the market.
Market cap is mostly calculated using the price of a stock and the total number of shares. However, with cryptocurrencies, the market cap is found out using the price of a coin and the total supply.
The precious metal market cap is measured using the total tons supplied and are just the estimates. In the case of ETH, it would need to have more than 5 times increment for it to go past Bitcoin.
In other words, ETH will need a market cap of more than $6000 to reach that spot. However, Bitcoin BTC should remain the same price, provided the supply change differences are mostly the same.