Ethereum Breaks into List of Top 100 Global Assets by Market Cap
Ether (ETH), the native crypto of Ethereum blockchain, has rallied about 13% in the last 24 hours, paving way for the crypto token to enter the list of top 100 listed assets by market capitalization, as per data provided by CompaniesMarketCap.com. It is the first-time Ether is entering the list.
Furthermore, Ethereum surpassed 12 entities on the list earlier today to take the 88th position, with Bristol-Myers Squibb and Anheuser-Busch taking the 89th and 87th position.
The crypto breached $1,200 level today, reflecting a gain of 62% this year alone. Notably, Ether hit $1,200 for the first time since January 2018 and seems to be on track to record new all-time highs.
Corresponding to the price gains, the market cap of Ethereum has increased $53 billion so far this year, adequate enough to surpass the market cap of many popular enterprises such as Wells Fargo, Philip Morris, Morgan Stanley, AstraZeneca, and Citigroup.
Bitcoin, which has entered the list long before, has been consistently improving its ranking, eclipsing, Visa, Alibaba, Berkshire Hathaway and even Tencent in recent times to reach the 10th place. Interestingly, with a computed market cap of $12.19 trillion, gold continues to remain as the number one in the list to top 100 assets in terms of market cap. Gold leads Apple, which is second in the list, by a difference of $10 trillion.
CompaniesMarketCap.com mainly monitors the market cap of publicly traded enterprises across the globe and lists them according to their descending order of market capitalization. The link “Top Assets by Market Cap” in the webpage of the company clubs companies, ETFs, precious metals and cryptos in a single list in terms of marketcap.
Nevertheless, several assets in the list cannot be compared directly. The computation for market cap is conventionally done by multiplying the stock’s price by aggregate number of shares, but in case of cryptos, the market cap is evaluated on the basis of multiplying the price of a token by its overall supply.
— CompaniesMarketCap.com (@CompaniesMarke1) January 6, 2021
In case of precious metals, market capitalization is computed by multiplying their traded price with available supply.
Discarding the overall changes in supply, interestingly, the price of Ethereum has to increase five-fold to about $6,100 for its market cap to surpass that of Bitcoin and the latter should not appreciate.