Despite the most recent pullbacks in crypto markets, the overall trend over the past few months has been quite bullish, leading to a new all-time high for bitcoin and a multi-year peak for ethereum.
Consequently, their market capitalizations have also increased a lot lately and that made them some of the largest financial assets by that metric. But where exactly is ethereum located?
eth in the Top 25
CryptoPotato He frequently reported on bitcoin's progress when the asset entered the top 10 financial assets in February by surpassing Warren Buffett's Berkshire Hathaway. A few weeks later, btc's market capitalization surpassed $1.4 trillion and surpassed that of Meta and silver, becoming the eighth largest financial asset. However, the latest declines have halted some of its progress and btc is now behind the metal.
All of this happened when the price of bitcoin jumped to an all-time high of almost $74,000. While ethereum failed to surpass its 2021 peak, it has also surged lately and briefly surpassed $4,000.
However, the aforementioned market pullbacks have taken eth to $3,500 as of now. Furthermore, while btc's structure is inflationary, even if pre-programmed, ethereum could be a deflationary asset following its transition from proof-of-work to proof-of-stake. This means that its market cap, which is now $420 billion, could potentially decline even if the price of eth rises.
However, the current market capitalization has put ethereum is among the top 25 global financial assets, surpassing companies such as Toyota, Samsung and, most recently, Johnson and Johnson.
How high can eth go?
The price of bitcoin has been forecast to surpass $100,000 and peak between $200,000 and $300,000 during this cycle. Although we know that predictions rarely happen as we expect, it is worth watching and analyzing how high ethereum can go according to some optimistic opinions.
Short-term eth forecasts see the asset reaching $5,000 in the coming months and potentially peaking at $10,000. If the second is reached, this would put eth's market capitalization at around $1.2 trillion, given its current supply. This could mean that ethereum would also be close to breaking into the top 10 financial assets if its market caps remain the same.
On the other hand, there are many ifs in these scenarios, so let's enjoy the moment when two cryptocurrencies are among the top 25 global financial assets.
Binance Free $100 (Exclusive): Use this link to sign up and receive $100 free and 10% off fees on Binance Futures for the first month (terms).
<!– ai CONTENT END 1 –>
