Ethereum breaks into list of the world’s top 100 assets by market cap

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A 13% rise in the price of ETH in the past 24 hours has propelled Ethereum to a list of the top 100 assets traded by market cap for the first time, as measured by CompaniesMarketCap.com.

Ethereum topped 12 other entries on the list today and is currently positioned at No.88, between Bristol-Myers Squibb at No.89 and Anheuser-Busch at No.87.

Up 62% in 2021 alone, the price of ETH today crossed $ 1,200 for the first time since January 2018 and looks set to break its record on January 13 of this year. This year’s gains translate to a $ 53 billion increase in Ethereum’s market capitalization, enough to exceed the market capitalization of several household conglomerates, including Wells Fargo, AstraZeneca, Philip Morris, Morgan Stanley and Citigroup.

Bitcoin – the only other cryptocurrency on the Top 100 list – was also torn down the rankings, overtaking Visa, Berkshire Hathaway, Alibaba and more recently Tencent, to climb to 10th place. With an estimated market cap of $ 12.19 trillion, gold sits at the top of the list with a margin of $ 10 trillion; its next closest competitor being Apple, at No.2.

Similar to CoinMarketCap.com (although not associated with them), CompaniesMarketCap.com primarily tracks valuations of publicly traded companies around the world and lists them in order of size by market cap. The “Top Assets by Market Cap” page of the website aggregates the market caps of companies, precious metals, ETFs, and cryptocurrencies into one list.

However, different assets are not necessarily directly comparable. The calculation of a market capitalization is traditionally determined by multiplying the price of a stock by its total number of shares, but in the case of cryptocurrencies, market capitalization is determined by multiplying the price of a coin by its total supply. Market caps of precious metals are measured by multiplying their price by the total tonnage of supply and are therefore only estimates.

In order for Ethereum to outperform Bitcoin in the market cap rankings, its price would have to be multiplied by five to $ 6,100 while BTC remained the same (ignoring the differences in supply change between now and then).