The market capitalization of Ethereum has surpassed the value of platinum for the first time, marking a new all-time high for Ether (ETH). Platinum is the one of the most precious metals this year, with almost 250 million ounces being mined, according to reports. However, with the gain reported for Ether, it is now ahead of platinum making ETH the 33rd most valuable asset in the world.
Details of Ethereum’s Price Breakthrough
Ether (ETH) is amongst the top most valuable assets in the world, which is a solid evidence that Ethereum is in the midst of the bull market. As reported, the price of ETH significantly increased and is now at $2,741.78.
With the current recorded market value of ETH, the total market capitalization of Ethereum is $315.4 billion, whereas, the total market capitalization of platinum is approximately $303 billion.
This surge in the value of ETH has also boosted the growth of its market dominance. ETH now represents 15.1% of the overall digital currency market. According to recent reports, the European Investment Bank is launching a “digital bond” offering on the Ethereum network, which has also considerably influenced the price performance of the cryptocurrency.
What Does the Future Hold for Ethereum?
The future of Ethereum looks bright, thanks to the increase in ETH’s market value and usership of its wallet. MetaMask is a popular Ethereum wallet that now has 5 million monthly users on desktop and mobile.
The increase in the market capitalization of ETH is likely to be a positive push for the cryptocurrency towards new breakthroughs. ETH is the second-largest cryptocurrency and has gained more than 360% by market capitalization, since the start of the year.
Keeping in view the information mentioned above, ETH is one of the cryptocurrencies to look out for. Therefore, potential investors who want to invest in Ethereum or other cryptocurrencies can start now by clicking on SwissBorg or Kraken.