Ethereum becomes 50th largest asset by market cap after recent price action Ethereum becomes 50th largest asset by market cap after recent price action
With a market cap of over $188 billion, Ethereum rose to become the 50th largest asset in the world, standing head to head with giants such as Toyota, Disney, and McDonalds.
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Updated: Oct. 27, 2022 at 4:33 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum has become the 50th most valuable asset in the world, surpassing Cisco, Alibaba, AstraZeneca, and T-Mobile.
After almost a month of flatlining, ETH experienced a notable spike and saw its price increase to $1,560 from $1,300 in less than two days. The positive price action rose its market cap to $190 billion and entered ETH into the top 50 assets by market cap.
Ethereum currently stands head-to-head with giants such as Toyota and Walt Disney, whose market caps hover around $195 billion.
Ethereum has become the second cryptocurrency ever to enter the top 50 assets by market cap. With a value of over $395 billion, Bitcoin takes up 14th place among the most valuable assets in the world, squeezed between Visa and Walmart.
At its current price of around $20,700, Bitcoin has surpassed palladium in terms of value. At its peak in mid-October 2021, Bitcoin’s market cap of $1.23 trillion put it above Alphabet’s current $1.21 trillion cap. At a $1.23 trillion market cap, Bitcoin was also a more valuable asset than silver currently is, as its market cap stands at $1.10 trillion in October 2022.
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Andjela Radmilac
Armed with a classical education and an eye for news, Andjela dove head deep into the crypto industry in 2018 after spending years covering politics.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Bitcoin
$97,791.02
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
