Ethereum (ETH) now has a place in the top 100 assets by market cap, ranked 94th with $135 billion, between Amgen and Wells Fargo. The asset broke into the top 100 on Jan 7., as it attempts to reach its previous all-time high of $1,432.
- ETH has experienced a significant rally in the past 7 days, growing by nearly 60%; this has boosted the market cap to its current level
- Ethereum’s market cap may have more room for growth as the market bull run shows no signs of abating and ETH itself being short of its all-time high
- ETH crossed the $1,200 mark for the first time during the last major rally in Jan. 2018
- Bitcoin is also on the list, at the considerably higher position of 11, with a market cap of $693 billion at the time of publishing
- The price rise is accompanied by heavy institutional investment and market developments, like the milestone launch of ETH 2.0; the CME Group will also launch ETH futures in Feb. 2021
- The tracker measures companies’ and assets’ market caps against each other, though it is a rough metric to compare the value of various assets