Closely following SoftBank, Ethereum enters the top 100 in the world by market value

According to data from CompaniesMarketCap.com, ETH has risen 13% in the past 24 hours, which has put Ethereum in the top 100 global market capitalization for the first time.

In the list of the top 100 global market capitalizations, Ethereum currently ranks 88th, surpassing 12 of the assets, with Bristol-Myers Squib ranked 89th and Anheuser-Busch ranked 87th.

The price of ETH has risen 62% in 2021 alone, topping $1,200 today for the first time since January 2018 and seemingly on track to surpass its all-time high set on January 13, 2018. The 2021 rally has given Ethereum a $53 billion market cap increase, enough to surpass the market capitalization of several family-owned corporate groups, including Wells Fargo, AstraZeneca, Philip Morris, Morgan Stanley, and Citigroup.

Ethereum has entered the top 100 global asset market capitalization. — CompaniesMarketCap.com (@CompaniesMarke1) January 6, 2021

Bitcoin is the only other cryptocurrency besides Ethereum in the top 100 list, and its market value has soared, surpassing Visa, Berkshire Hathaway, Alibaba and Tencent, and now ranks 10th in market value. Gold is valued at $12.19 trillion, ranking first; the second competitor is Apple, with a market value gap of $10 trillion.

Similar to CoinMarketCap.com (although not affiliated), CompaniesMarketCap.com tracks the valuations of publicly traded companies around the world and ranks them by market cap. The site’s “World’s Largest Assets” page includes companies, precious metals, ETFs, and cryptocurrencies.

However, different assets are not necessarily directly comparable. In traditional industries, market capitalization is calculated by multiplying the stock price by the total number of shares, but for cryptocurrencies, the market capitalization is determined by multiplying the token price by its total supply. The market capitalization of precious metals is measured by multiplying its price by the total supply weight, so it is only an estimate.

For Ethereum’s market cap to surpass Bitcoin, ETH’s price would have to rise fivefold to $6,100 while BTC’s price remained constant (ignoring supply changes between now and before).

For further information on Ethereum’s future performance, please continue to follow Cointelegraph Chinese’s follow-up reports.

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