The world’s second-largest crypto-asset sees a large market cap of $500 billion. The big round number is a great opportunity for people to really look at Ether
Ethereum, which is above $4000 for the first time in its history, is also at around a $500 billion market cap, which is quite staggering. It is also eating into the Bitcoin dominance, which was once quite large. Now the share of non-Bitcoin assets, which make up the total market cap of the crypto universe, is growing significantly. This is encouraging Ethereum fans everywhere to think about flipping somewhere in the future.
The second-largest crypto asset has achieved a milestone by market cap. It is doing gangbuster growth as both an asset and its network itself.
This has given crypto-enthusiasts including Bitcoin lovers an opportunity to invest in Ethereum. It is worthwhile considering just having so much money pouring into DeFi, which is really held by the Ethereum chain. There are other world gardens like Solana blockchain, Binance Chain, and all these different ones but Ethereum still’s king when it comes to DeFi.
As long as Ether is king, money keeps going to pour into it.
It is quite intriguing to see the market predominance of Bitcoin go down. Obviously, Bitcoin is still the king but Ethereum is getting up there so it is exciting. It is interesting to see competition across currencies that includes competition across cryptocurrencies. Seeing this decentralized world evolve and seeing people’s interest in it is a welcomed change and one that was long foreseen.
However, is also surprising actually because crypto is complicated and not an easy world to understand. It is complicated to figure out these platforms, compounds, and synthetics, and all these yielding and yield farming. Using these complex algorithms to figure out what you yield from all these different things and re-put back in can get complicated quickly.
It is surprising to see so many people fly into it and get on the bandwagon. However, it should not be surprising because as soon as people realize they can make money in something they tend to go at it.
This market cap has come at a very interesting point with the recent NFT craze, and Dapps being built on Ethereum.
The market cap is an opportunity to do some comparative analysis. For instance, the market cap of J.P Morgan or Visa is being compared to the market of a widely distributed crypto asset. Some people so see flaws in the comparative analysis. However, it is quite interesting to think about the value of all the Ether in the world surpassing Visa or J.P Morgan. It is an opportunity to think about the trajectory of an asset that has really been growing in value a lot lately. Seemingly
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