Bitcoin closes year with 26th largest market cap globally Bitcoin closes year with 26th largest market cap globally
Ethereum ranked 77th, while Tesla loses its place in the top-10.
1 min read
Updated: Dec. 23, 2022 at 3:46 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin (BTC) heads into the Christmas period with the 26th largest market cap at $324.68 billion, just below Mastercard with $328.35 billion.
Ethereum (ETH), on the other hand, ranks 77th on the list with a $147.60 billion market cap, while Tesla loses its place amongst the top 10 and places 13th with $395.82 billion.
Ranking by market cap
Gold, Apple, and Saudi Aramco are the top three assets, with the largest market cap of $11.939 trillion, $2.103 trillion, and $1.819 trillion, respectively.
Microsoft, Silver, Google, and Amazon follow as the fourth, fifth, sixth, and seventh with $1.775 trillion, $1.333 trillion, $1.137 trillion, and $854.80 billion market caps, respectively.
Meta Platforms and Samsung, on the other hand, are ranked after BTC as 30th and 31st with $311.31 billion and a $304,89 billion market cap, accordingly.
Gold and BTC
On Oct. 24, CryptoSlate analysts revealed that BTC and Gold had achieved an 85% correlation since over the past year. This finding indicated that these two assets increased and decreased at the same times and the same rates with 85% accuracy.
On Nov. 4, the market data also showed that BTC responded to the Fed’s 0.75% interest rate hike even better than Gold or NASDAQ. Reacting to the increase, Gold fell by 0.68%, while NASDAQ sunk by 4.97%. BTC, on the other hand, increased by 0.55% during the same period, which suggests that BTC is a lot “safer as an asset than NASDAQ or Gold.
The correlation between BTC and Gold was also noticed by the prominent names of crypto as well. Author of Bitcoin: The Future of Money? Dominic Frisby suggested purchasing BTC and Gold together to combat inflation, while ETH founder Buterin relies only on BTC.
Mentioned in this article
Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,357.63
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Tesla
Tesla is a manufacturer of electric vehicles and a clean energy company led by billionaire Elon Musk.
Meta
Meta (formerly known as Facebook, Inc.) is an American online social media and social networking service company based in Menlo Park, California.
Mastercard
Mastercard is a leading global payments & technology company that connects consumers, businesses, merchants, and issuers and governments around the world.
Vitalik Buterin stands as the pioneering force behind Ethereum, a transformative community-driven platform that fuels the cryptocurrency ether (ETH) and underpins a myriad of decentralized applications.
Dominic Frisby is a British author, comedian and voice actor.
