A 13% rise in the price of ETH over the past 24 hours propelled Ethereum for the first time on a list of the top 100 traded assets by market capitalization, measured by CompaniesMarketCap.com.
Ethereum pulled past 12 other entries on the list today and is currently in # 88 spot, between Bristol-Myers Squibb at # 89 and Anheuser-Busch at # 87.
With 2021 alone at 62%, the price of ETH today exceeded $ 1,200 for the first time since January 2018 and it looks like it will reach its all-time high on January 13 of that year. This year’s gains are a $ 53 billion increase in Ethereum’s market capitalization, enough to surpass the market capitalization of several domestic conglomerates, including Wells Fargo, AstraZeneca, Philip Morris, Morgan Stanley and Citigroup.
Ethereum entered the top 100 assets per market
Source: https://t.co/oDzWrvLl2b pic.twitter.com/63zrsalRfH– CompaniesMarketCap.com (@ CompaniesMarke1) 6 January 2021
Bitcoin – the only other cryptocurrency on the top 100 list – also tore through the rankings, surpassing Visa, Berkshire Hathaway, Alibaba and recently Tencent, to move to the # 10 spot. With an estimated market capitalization of $ 12.19 trillion, gold with a margin of $ 10 trillion sits at the top of the list; its closest competitor is Apple at # 2.
Similar to CoinMarketCap.com (though not affiliated with it), CompaniesMarketCap.com primarily maintains the valuations of listed companies around the world and lists them in order of market capitalization. The site’s “Top Assets Per Market Capitalization” ranks the market capitalization of companies, precious metals, ETFs and cryptocurrencies in a single list.
However, different assets are not necessarily directly comparable. The calculation of a market capitalization is traditionally determined by multiplying the price of a share by its total number of shares, but in the case of cryptocurrencies, the market capitalization is determined by multiplying the price of a coin by its total supply. Market capitalizations for precious metals are measured by multiplying their price by the total amount of inventory, so these are estimates only.
For Ethereum to surpass Bitcoin on the market capitalization, it will have to be five times higher up to $ 6,100, while BTC will remain at the same price (ignoring the differences in supply change between now and then).