Ethereum, the second-largest cryptocurrency by market cap, was added to the top 100 market cap assets list when prices closed at a previous record of nearly $ 1,400 and Google search hit new all-time highs.
According to AssetDash, Ethereum is currently the 70th largest asset by market cap by market cap after Bristol-Myers Squibb and Rio Tinto, with a $ 140.2 billion market cap. It is important to note that the list does not include gold or silver, which have a larger market cap.
ETH In Circulation Boosted Growth
Even if ETH would not be at its all-time high, it would still be in the top 100 by market capitalization. Ethereum is more than it was years ago; it now supports Defi and offers opportunities to stack on and promote dApps and smart contracts. It is a versatile foundation for decentralized finance, not just a token of selling ICOs.
ETH 2.0 project has boosted Ether’s growth. As of December 30, more than 1,000 new auditors have signed funds into the Eth 2.0 deposit agreement, all of which will win prizes in a matter of weeks. The validator queue is currently 17,425, meaning anyone joining Eth 2.0 by assigning 32 ETH will have to wait up to 20 days before doing anything online.
While 97.1 million ETH was in circulation at the time, there are now more than 114.1 million coins in circulation, according to Etherscan. The cryptocurrency market cap is growing as demand continues to grow from institutional and retail investors.
Price of Crypto Could Double in 2021
MicroStrategy, MassMutual, Ruffer Investment, One River, Square, and others have poured millions of dollars into BTC to hedge against inflation and currency devaluation. As corporate, institutional, and retail investors continue to rely on crypto price forecasts, they become increasingly optimistic. Former Goldman Sachs CEO Raul Pal announced that ETH could reach $ 20,000 this year under Metcalfe’s law.
Greg King, CEO of crypto firm Osprey Funds, announced that he believes bitcoin and ether prices could double this year because of breaking BTC with new records as part of a more significant rise. King said that he wouldn’t be surprised if Bitcoin and Etherium hit triple-digit gains by 2021 as they did in 2020.
It means King believes Bitcoin and Ether’s prices could double from December 21 to the end of this year, bringing BTC to $ 59,000 and ETH to nearly $ 1,500. These price predictions are the basis of continued acceptance by public companies and institutional investors.
While ETH is still at its peak, the price of the leading cryptocurrency continues to break records. According to CryptoCompare, it’s now $ 40,900, a new description. BTC started going up last year after PayPal announced that users could buy crypto on its platform, and the jump is in support from companies investing in cryptocurrency.