Ethereum broke the $200 billion market cap mark, surpassing secular companies such as Novartis and AT&T.
Ether (ETH) is up 150% in 2021, causing its market capitalization to soar above $200 billion. Most traders are fixated on the unitary price, even though it is entirely arbitrary, therefore missing relevant milestones and comparables.Ether and Bitcoin YTD performance. Source: Digital Assets DataInvestors, mainly those coming from the traditional industry, are used to compare multiples of earnings, sales, and market share. Meanwhile, when valuing a cryptocurrency with multiple use cases, there is no single metric to gauge its potential. Ether might simultaneously act as a digital store of value while functioning as the token required to access the Ethereum network.ETH market cap, in USD billion. Source: TradingViewTo evidentiate the myopia caused by unitary prices, Cardano (ADA) is priced below $1, although its market capitalization is over $26 billion. Therefore, the outstanding number of coins matters just as much. At the other extreme, Cover Protocol (COVER) unitary price is nearly USD 1,600, even though its market capitalization remains sub $100 million.Largest global assets’ ranking by market capitalization. Source: 8marketcap.comAlthough the merits of comparing different classes’ assets side-by-side are debatable, market capitalization works the same way for commodities, stocks and mutual funds. Some additional metrics are often used to analyze an asset size, including free float, the …



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