A 13% increase in the price of ETH in the past 24 hours propelled Ethereum to a list of the top 100 assets traded at market value for the first time, as measured by CompaniesMarketCap.com.
Ethereum marched in addition to 12 other entries on the list today and is currently positioned at # 88, between Bristol-Myers Squibb at # 89 and Anheuser-Busch at # 87.
With a 62% rise in 2021 alone, the price of ETH surpassed $ 1,200 today for the first time since January 2018 and looks set to surpass its historic record on January 13 of that year. This year’s earnings translate into a $ 53 billion increase in Ethereum’s market capitalization, enough to exceed the market capitalization of several domestic conglomerates, including Wells Fargo, AstraZeneca, Philip Morris, Morgan Stanley and Citigroup.
Ethereum entered the ranking of the top 100 assets by market
Source: https://t.co/oDzWrvLl2b pic.twitter.com/63zrsalRfH– CompaniesMarketCap.com (@ CompaniesMarke1) January 6, 2021
Bitcoin – the only other cryptocurrency on the top 100 list – is also high in the ranking, overtaking Visa, Berkshire Hathaway, Alibaba and, more recently, Tencent, to move up to tenth place. With an estimated market value of $ 12.19 trillion, gold is at the top of the list by a margin of $ 10 trillion; its next closest competitor is Apple, at # 2.
Similar to CoinMarketCap.com (although not associated with them), CompaniesMarketCap.com mainly tracks ratings of publicly traded companies worldwide and lists them in order of market capitalization size. The website’s “Main assets by market value” page organizes the market values of companies, precious metals, ETFs and cryptocurrencies into 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 currency by its total offering. The market limits for precious metals are measured by multiplying their price by the total tonnage of the offer and, therefore, are only estimates.
For Ethereum to overtake Bitcoin in the market capitalization ranking, it would have to increase the price five times, to $ 6,100, while BTC remained the same price (ignoring the differences in supply changes between now and then).