By Solomon Odunayo
Ethereum (ETH), the second-largest cryptocurrency in the world, has joined the list of 100 largest assets in the world by market capitalization, following the significant price surge it has been printing over the past weeks.
According to CompaniesMarketCap.com, this milestone was reached after an over 12% rise in the price of Ethereum (ETH) over the past 24 hours.
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The Current Position of Ethereum (ETH) Among World Shakers
According to the report, Ethereum swiftly displaced twelve other assets on the list to emerge as the 88th largest asset in the world. Its position falls in between Bristol-Myers Squibb at 89th and Anheuser-Busch at 87th.
CompaniesMarketCap.com tweeted, “Ethereum entered the top 100 assets by market…”
Ethereum entered the top 100 assets by market 🚀
Source: https://t.co/oDzWrvLl2b pic.twitter.com/63zrsalRfH— CompaniesMarketCap.com (@CompaniesMarke1) January 6, 2021
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The price of ETH has recently surpassed $1,200 for the first time since January 2018, having a record of a 62% upside trend in 2021 alone. Considering its bullish consolidation pattern, the top cryptocurrency could surpass its price all-time high of about $1,450 earlier than expected.
The gains accumulated by Ethereum this year have translated into a $53 billion increase in its market cap. The vast increase was enough to displace a number of household conglomerates, such as Wells Fargo, AstraZeneca, Philip Morris, Morgan Stanley, and Citigroup.
Ethereum (ETH) Replicating Bitcoin (BTC) Performance
At the moment, Bitcoin (BTC), the first and largest digital currency by market cap, is the only digital asset on the top 100 assets list aside from Ethereum (ETH) that recently printed an outstanding performance to join the list.
Bitcoin has outranked big techs and businesses across the world, including Visa, Berkshire Hathaway, Alibaba, and Tencent. It currently occupies the 10th position with a lot of room to improve.
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So, for Ethereum (ETH) to surpass Bitcoin (BTC) in the market cap rankings, its price would have to surge 5-fold to be priced at around $6,100, while Bitcoin remains at a 37,000 price level.
Whatever the case may be in the future, it’s becoming certain that cryptocurrencies, especially Bitcoin and Ethereum, are emerging to gain more prominence in the financial world.
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