Despite the most recent retracements in the crypto markets, the overall trend in the past several 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 increased as well a lot lately and that made them some of the largest financial assets by that metric. But where exactly does Ethereum stack up?Bitcoin’s progress as the asset entered the top 10 financial assets in February by surpassing Warren Buffett’s Berkshire Hathaway. A few weeks down the line, BTC’s market cap exceeded $1.4 trillion andthat of Meta and silver, becoming the 8th largest financial asset.
This all happened when Bitcoin’s price jumped to an all-time high of almost $74,000. While Ethereum failed to break its 2021 peak, it has also gone on a run lately and briefly surpassed $4,000. Yet, the aforementioned retracements in the market have driven ETH south to $3,500 as of now. Additionally, while BTC structure is inflationary, even though it is 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 at $420 billion, could potentially decline even if ETH’s price goes up.
Then again, there are a lot of Ifs in these scenarios, so let’s just enjoy the moment in which two cryptocurrencies are in the top 25 global financial assets.One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.