Ethereum (ETH), the number two cryptocurrency by market cap, has been increasing even more than Bitcoin (BTC) over the previous couple of days.
Hours ago, the price of the cryptocurrency reached a record to new all-time highs at $2,741. ETH was trading at about $2,730, making its market cap nearly $315 billion.
The Bitcoin competitor is now almost breaking into the top 30 most valuable global assets.
Ethereum (ETH) Beats Platinum
Ethereum (ETH) is now the 33rd most valuable global asset, beating the market cap of Platinum.
Based on a Cointelegraph report, the overall capitalization of precious metal platinum is at $303 billion. This is from from an analysis of the metal’s cumulative mining since 1900.
Ytd, Platinum has beaten other precious metals, including silver and gold, but can’t beat the momentum of Ethereum (ETH) and other cryptocurrencies.
Ethereum seems to be in the middle of an unusual bull run. Even Bitcoin is not matching ETH’s increasing trend ytd. More challenges are expected to show for the cryptocurrency which is pushing to attain new milestones.
Since the first day of 2021, Ethereum (ETH) has increased more than 350% amidst the large increase in adoption of cryptocurrencies and the hope of a big reduction in gas fees through the use of its new EIP-1559 implementation.
The current upside trend of ETH has also lowered Bitcoin’s dominance substantially. Ethereum now is around 15% of the crypto world, while Bitcoin is at 50%.