Ethereum becomes 50th largest asset by market cap after recent price action

Ethereum has go the 50th astir invaluable plus successful the world, surpassing Cisco, Alibaba, AstraZeneca, and T-Mobile.

After astir a period of flatlining, ETH experienced a notable spike and saw its terms summation to $1,560 from $1,300 successful little than 2 days. The affirmative terms enactment roseate its marketplace headdress to $190 cardinal and entered ETH into the apical 50 assets by marketplace cap.

Graph showing Ethereum’s terms from August to October 2022 (Source: CryptoSlate Ethereum)

Ethereum presently stands head-to-head with giants specified arsenic Toyota and Walt Disney, whose marketplace caps hover astir $195 billion.

Graph showing Ethereum’s marketplace headdress successful October (Source: TradingView)

Ethereum has go the 2nd cryptocurrency ever to participate the apical 50 assets by marketplace cap. With a worth of implicit $395 billion, Bitcoin takes up 14th spot among the astir invaluable assets successful the world, squeezed betwixt Visa and Walmart.

Table showing the apical 20 assets by marketplace capitalization (Source: CompaniesMarketCap)

At its existent terms of astir $20,700, Bitcoin has surpassed palladium successful presumption of value. At its highest successful mid-October 2021, Bitcoin’s market cap of $1.23 trillion enactment it supra Alphabet’s existent $1.21 trillion cap. At a $1.23 trillion marketplace cap, Bitcoin was besides a much invaluable plus than metallic presently is, arsenic its marketplace headdress stands astatine $1.10 trillion successful October 2022.

The station Ethereum becomes 50th largest plus by marketplace headdress aft caller terms action appeared archetypal connected CryptoSlate.