Ethereum has been up with the recovery in the market, growing as fast as bitcoin in the space. This has seen the market cap of the cryptocurrency rise rapidly. While it had lost its footing in the list of top assets by market cap in the world following the price crash, it has since gained back enough of its previous value to put the digital asset above some of the largest companies on the list.
Ethereum Is Bigger Than Walmart
With a recovery above $3,200, Ethereum has once again solidified its place as one of the most valuable assets in the financial sector. Although it is only half a decade old, it continues to compete with companies that have been in operation for decades, boasting a higher market cap than others despite their widespread use around the world.
Related Reading | Stablecoins Total Market Cap Breaches $179 Billion Mark – Can It Go Higher?
After losing about $100 billion of its market cap following the crash that saw its fallen crumble from above $4,000 to below $3,000, it has begun to claw its way back up. At its current price, atheneum’s market cap is back up at $382.34 billion. It’s a long way from its all-time high but a significant value nonetheless, one that puts it ahead of giants like Walmart and Mastercard.
The digital asset is now sitting at 25th place on the list of the most valuable assets in the world. While this number may seem a bit low, a look through the list helps put in perspective just how large the cryptocurrency has gotten.
ETH settles above $3,200 | Source: ETHUSD on TradingView.com
Ethereum sits ahead of world-class names and brands on the list. Most of these are households names and are leaders in their various industries. Besides Walmart and Mastercard, the digital asset boasts a larger market cap than the likes of Home Depot, Alibaba, Disney, Coca-Cola, Pepsico, among others.
Where Does Bitcoin Sit?
Bitcoin is the most valuable cryptocurrency in the crypto space. Its market cap is twice as large as that of ethereum, which holds the spot for the second-largest. With a market cap of $839.60 billion, bitcoin sits considerably higher on the list compared to the number 2 cryptocurrency.
Related Reading | Three Arrows Buys Your ETH, Addresses Swell After Hinting Bearish Stand
Presently, bitcoin’s market cap places it at 9th place on the list of most valuable assets in the world. It comes out ahead of social media giant Meta (formerly Facebook), payments giant Visa, legendary investment firm Berkshire Hathaway, among a slew of others.
It is truly remarkable what assets in the crypto space have been able to achieve despite the industry being a little over a decade old. The more the space grows, the higher they will move up on the list.
Featured image from Currency.com, chart from TradingView.com
Leave a Reply