Ethereum’s market cap is now beyond that of the biggest banks in the world, making it more valuable than even some countries. This latest milestone represents a massive shift in power from centralized organizations to decentralized technology and opens up all sorts of new possibilities for everything from financial services to art distribution.
The “coinmarketcap” is a website that provides real-time data on the current market cap and volume of different cryptocurrencies. The site also provides charts for various time periods.
The cryptocurrency sector has had one of its greatest years, with widespread acceptance from consumers and institutional investors.
While this has boosted the value of some of the most well-known digital assets, such as Bitcoin and Ethereum, the market capitalization of these assets also reflects the magnitude of the space’s expansion.
The market capitalization of Ethereum has now surpassed that of the world’s biggest bank.
According to publicly accessible statistics, Ethereum’s market capitalization has already surpassed that of some of the world’s largest financial institutions, including JPMorgan.
As a result, the market capitalization of $ETH has eclipsed that of every worldwide bank…
and you’re “still not sure” whether the blockchain/crypto stuff is going to be around? pic.twitter.com/oIlptH8SYn
December 1, 2021 — Kris Kay | DeFi Donut (@thekriskay)
A twitter user named Kris Kay DeFi initially brought this up on December 1 with a tweet showing Ethereum’s market worth of $550 billion. According to his tweet, the expansion of the area shows how far the currency has gone in recent years.
To put this in perspective, Ethereum has been around for less than a decade, but JPMorgan Chase has been around for about 40 years.
Despite the fact that Ethereum’s market value has dropped by over 5% as of press time, it remains in the top 15 assets by market cap in the world, with only Facebook’s Meta, Tesla, Amazon, Bitcoin, Apple, Microsoft, and other well-known assets coming before it.
How did Ethereum get so far?
Due to its smart contract characteristics, Ethereum’s blockchain is probably one of the most popular and widely utilized blockchains in the crypto industry. It is the most chosen blockchain for Decentralized finance (DeFi) applications.
Many experts have projected that blockchain would someday replace conventional finance.
Aside from that, the network conducts over one million daily transactions, making it one of the most widely utilized cryptocurrency networks.
However, its expansion is impeded by record-high transaction costs, which it has been combating with the introduction of the EIP-1559 and a move to a proof-of-stake network.
Posted in: Banking, Ethereum, Ethereum, Ethereum, Ethereum, Ethereum, Ethereum, Ethereum, Ethereum
The most relevant daily news in the worlds of crypto, DeFi, NFTs, and more are summarized here.
Gain a competitive advantage in the cryptoasset market.
As a premium Edge member, you’ll get additional crypto insights and context in every story.
Analyses of the whole chain
Snapshots of prices
a little more context
For just $19 a month, you can become a member right now. Examine all of the advantages.
Watch This Video-
Ethereum’s market cap is now beyond that of the biggest banks in the world. The cryptocurrency has a current price of $1,932 and will end 2021 with a market cap of $2,848. Reference: ethereum price end of 2021.
- ethereum starting price
- can ethereum reach 10000
- will ethereum crash 2021