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.
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.