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Ethereum is gaining strong momentum and it has jumped to 62% just in the beginning of the New Year 2021
Ethereum has surpassed bitcoin and it is showing good signs of recovery. ETH is ranked at 88th position and has overcome 12 other entrants
As per the companiesMarketcap.com Ethereum is showing great signs of recovery. The digital currency has come under the list of top 100 tradable assets by market cap. This has happened for the first time and a 13% jump is seen in ETH price in the past 24 hours.
Ethereum is presently ranked at 88 and has surpassed 12 other entrants. Bristol-Myers Squibb and Anheuser-Busch are ranked at 89th and 87th respectively.
Ethereum is gaining strong momentum and it has jumped to 62% just in the beginning of the New Year 2021. This is seen for the first time after January 2018 when the prices of ETH was surpassed $1200 and it broke the all-time high set on January 13, 2018. The prices of ETH have moved over several other big conglomerates like Wells Fargo, AstraZeneca, Philip Morris, Morgan Stanley and Citigroup.
Bitcoin too playing tough
The other cryptocurrency that has moved up in the list of top 100 is Bitcoin. The digital asset has surpassed Visa, Berkshire Hathaway, Alibaba and a very new entrant Tencent to number 10. However, Gold tops the list by a margin at $10 trillion. The estimated market capitalization is $12.19 trillion. The next competitor on the list is Apple, which is very close.
Following the market practice CompaniesMarketcap.com also tracks the valuations of publicly traded companies worldwide. These companies are listed according to the market capitalization. To calculate the market capitalization one needs to multiply the prices of the share with the total number of shares. However, in the case of bitcoin, the market capitalization is determined by multiplying the price of a coin by its total number. In case of precious metals, the market capitalization is measured by multiplying their price by the total.
For Ethereum to overcome bitcoin in the market cap rating, ETH would have to grow five times in price to $61,00.
