Another joyous news for the crypto industry. Ethereum, the second-largest crypto-asset, now ranks among the global top 100 assets by market capitalization.
According to CompaniesMarketCap, a company that tracks the market capitalization of various assets such as public companies’ stocks and precious metals, Ethereum is number 95.
The market capitalization is calculated by combining all assets of a firm, or in Ethereum’s case, the price of all ETH currently in circulation. Ethereum entering this top 100 is solely based on its most recent price surge. The rise has directly increased the altcoin’s market capitalization. Currently, Ethereum’s market cap sits at $142.2 billion.
At press time, Ethereum is trading at around $1,230, up by 66 percent over the week, according to CoinGecko. This growth pushes ETH’s market capitalization to over $142 billion and lands it in the asset top 100. The altcoin outclasses Citigroup, Philip Morris, and Charter Communications, among others.
The number two cryptocurrency also ranks 71st on analytics platform AssetDash. However, the platform does not rank market caps of precious metals such as gold and silver, and companies like Saudi Aramco.
Having said this, it is worth noting that over $22 billion of various tokens is now locked in Ethereum‘s decentralized finance projects, according to analytics site DeFi Pulse today.
Only one way for Bitcoin, Up!
The number one cryptocurrency, which has since last year broken into the asset top 100, further cements its place on the list going up. It now ranks 9th on CompaniesMarketCap and 7th on AssetDash.
Previously, firms like Berkshire Hathaway class B shares, Visa, Coca Cola, Johnson & Johnson, and Walmart used to value higher than Bitcoin. That is no longer the case today.
Like Ethereum, Bitcoin has led the recent crypto surge, reaching new all-time highs since the new year.
At press time, BTC trades at $41,359, a 42.7 percent rise in the last seven days. It’s market cap is pegged at $769,056,397.676
Bitcoin recently visited another All-time high price of $41.940. The number one crypto-asset has continued to surge all year rising exponentially.
What Tether, XRP, and other coins need to reach this level
Although it looks like mission impossible for Tether, the third-largest cryptocurrency, and XRP, the fourth-largest, to make it into the asset top 100, it does not rule out the fact that both coins are potential prospects.
Tether has its market cap pegged at $23,797,174,393 and XRP’s market cap sits at $14,564,438,26 at press time.
Both cryptos need valuations of over $100 billion to break into top 100 assets. An unlikely scenario, especially for XRP.
It must be said that with XRP’s current regulatory tussle with the SEC, which has a negative impact on the coin, its chances of making it are slimmer. However, without considering its issues with SEC, XRP would displace one company from the top 100 asset list in a matter of years.