Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has been on a meteoric price surge over the past few weeks, which led to its price surpassing the $3,000 mark.
As the digital currency increases in price, its market capitalization among the world’s largest assets continues to increase, giving it a deserving space among the most valuable assets in the world.
And with the look of things, Ethereum (ETH) is still at the early stage of its rising, due to the fact that the crypto market is currently in the middle of a bull cycle.
Ethereum (ETH) Is Now 21st Largest Asset in the World
At the time of filing this report, Ethereum (ETH) is trading at $3,366.20, with a market capitalization of $391.5 billion.
According to companiesmarketcap.com, Ethereum is currently the 21st largest asset in the world. This implies that the leading smart contract platform is now bigger than notable companies, such as Nestle, Mastercard, Bank of America, SPDR S&P 500 ETF Trust, UnitedHealth, among others.
Ethereum is now closer to flipping Walmart that currently ranked as the 20th biggest asset, with a relatively $395 billion market cap.
As aforementioned, Ethereum has enough room to surge further in terms of price as many crypto analysts remain optimistic that the top digital currency could reach the $10,000 region before the end of the current bull cycle.
Ethereum (ETH) Continues To Reduce Bitcoin (BTC) Market Dominance
The current increase in the price of Ethereum (ETH), which led to flipping notable companies and assets in the world, is also reducing the market dominance of Bitcoin (BTC), the largest digital currency by market capitalization.
Over the past few days, the flagship crypto has been trending sideways, with no significant price upside trend, while Ethereum (ETH) and a number of other altcoins continue to showcase a bullish trend.
At the time of writing, Bitcoin is only dominating the crypto market by 45.1%, while Ethereum has surged to 16.9% according to CoinMarketCap.