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Ethereum’s market cap exceeds that of platinum for the first time


29 Apr 2021

#Ethereum

With ETH charting new all-time highs, its cumulative market value has exceeded that of mined platinum. Ether (ETH) is approaching the top 30 most valuable assets in the world following its latest price breakthrough, offering further evidence that the developer network is in the midst of a powerful bull market. 

ETH price peaked at $2,741.78 on Wednesday, marking a new all-time high, according to TradingView data. With a current value of around $2,730, Ether’s total market capitalization is now $315.4 billion.

With the gain, Ether is now the 33rd most valuable asset in the world, swiftly overtaking the precious metal platinum, according to comparison website CompaniesMarketCap.com. The total market capitalization of mined platinum, which is currently estimated at around $303 billion, is derived from an analysis of the commodity’s cumulative production since 1900. Utilizing data from Statistica and Johnson Matthey Technology Review, CompaniesMarketCap.com estimates that 250 million ounces of platinum have been mined.

Platinum is the best-performing precious metal this year, though its gains pale in comparison to Ether and other cryptocurrencies. Platinum has returned nearly 14% year-to-date, whereas silver and gold have declined. Ether could be embarking on new milestones in the very near future. The next six most valuable companies or assets are currently within $35 billion of its market cap — and nearly all of them operate in traditional industries.

In terms of overall performance, Ether has been on a roll this year. The second-largest cryptocurrency by market cap has gained over 360% since Jan. 1 on the back of a strong bull market, growing decentralized finance adoption, and optimism about forthcoming Ethereum Improvement Proposals.

More recently, ETH’s price performance has been supported by news that the European Investment Bank is launching a new “digital bond” offering on the Ethereum network. Ethereum’s market dominance is also growing. The cryptocurrency now represents 15.1% of the overall market for digital assets. Bitcoin (BTC), meanwhile, has seen its dominance fall below 50%.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 83.6% 21 $19 227.94 -0.40% 1.89% $368 550 102 144 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 62% 83 $1 296.75 -0.90% -0.35% $159 016 820 006 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000035 0% 0% $67 951 782 346 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000046 0.01% -0.01% $47 327 743 633 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 90.4% 14 $287.07 1.74% 4.45% $46 315 016 227 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 59.6% 86 $0.452920 -4.53% -7.95% $22 601 023 472 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 95.2% 1 $1.000499 0.10% 0.04% $21 052 726 484 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 76% 41 $0.423921 -1.75% -5.11% $14 520 624 297 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 84.8% 27 $32.44 -1.07% -0.34% $11 530 506 033 SOL 7 days price change
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11 Dogecoin (DOGE) DOGE Dogecoin predictions 86.4% 15 $0.059860 -1.44% -2.73% $7 941 651 926 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 63.2% 71 $6.25 -0.66% -0.92% $7 021 416 871 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 95.6% 1 $0.999949 0.04% 0.04% $6 831 991 352 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 66% 63 $0.773942 0.73% 4.14% $6 759 856 844 MATIC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 90% 5 $0.061029 0.90% 2.75% $6 205 186 084 WTRX 7 days price change

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