Ethereum is unstoppable as it approaches $ 3,000
continued to print new highs. The world’s second largest cryptocurrency by market cap is now a few dollars away from $ 3,000.
At press time, Ethereum switched hands at $ 2,969 after hitting a 24-hour high of $ 2,976.
This year alone, the price of the leading altcoin has increased by more than 200%. This has resulted in a massive market cap of $ 343 billion. With the new number, the Ethereum network ranks above large companies such as Procter & Gamble, Nestle and PayPal.
For the uninitiated, a crypto company’s market capitalization is obtained by multiplying the last trading price by the total number of coins in circulation. In traditional finance, however, this number is measured by comparing multiple ad ratings in terms of profit, market share, and revenue. It is therefore almost impossible to accurately compare the market capitalization of cryptocurrencies with traditional companies.
As previously reported by BTC PEERS, the hopes for the upgrade of Ethereum London, which is expected to go live in July, are high. Additionally, the leading cryptocurrency has welcomed a new wave of institutional investors following the approval of three Ethereum Exchange Traded Funds (ETFs) in Canada.
Read on about BTC peers
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