Ethereum, the second cryptocurrency by market capitalization enters top 100 assets by market cap after an increase in price.
Cryptocurrency or digital currency, also referred to as crypto assets are now the new safe haven which is being considered after gold and silver.
Before ethereum, bitcoin is the only cryptocurrency to be among the top 100 assets by market cap.
The assets in the world cannot be compared directly so there is a need for more unified means of comparison which is the market capitalization.
What is market capitalization?
The market capitalization of stocks and shares are measured by the number of outstanding shares multiplied by the price of the shares while the market capitalization of precious metals (gold, silver) are measured by multiplying the tonnage of supply by the price.
On the other hand, the market capitalization of cryptocurrencies are measured by multiplying the price by the circulating supply.
The number one asset in the world remains gold with a market cap above $11trillion while silver also made the list, appearing sixth on the chart.
Bitcoin which is the first cryptocurrency made it to the top ten while ethereum which happens to be the second cryptocurrency by market cap enter the list after an increase of about 840% over the last 12months.
After few days of being the 100th asset on the top 100 assets by market cap, ethereum is now 92nd with a market capitalization of $140.79million.
What does this implies?
This is an indication that the mass adoption of cryptocurrency is closer than before.
In respect to safe haven, there is currently a reduction in the market capitalization of gold and silver which indicate that financial institutions are now buying bitcoin and other cryptocurrencies rather than gold and silver.
The cryptocurrency price follows the law of demand and supply.
As the demand is increasing, the price will be increasing.
As at now, the two most profitable cryptocurrencies for investment are bitcoin and ethereum which can be bought directly without third party using kurepay wallet.
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