Ethereum’s market cap exceeds that of platinum for the first time
Ether (ETH) is approaching way towards the top 30 most valuable assets in the world as its latest price breakthrough, proving that the developer network is in the midst of a powerful bull market.
Ether reached another all-time high of $2,741.78 on Wednesday with a current total market capitalization of over $310 billion now.
As it gains, Ether is currently the 33rd most valuable asset in the world, thoroughly overtaking the precious metal platinum and payment giant PayPal, according to comparison website CompaniesMarketCap.com.
Ether is expected to be embarking towards milestones in the very near future. In terms of overall performance and growth, Ether has been on the roll throughout this year. The second-largest cryptocurrency by market cap has gained over 360% since the starting of the year on the support of a strong bull market, growing crypto and decentralized finance adoption along with optimism about forthcoming Ethereum Improvement Proposals.
Previously this week, ETH’s price got a supportive boom by news that the European Investment Bank is launching a new “digital bond” offering on the Ethereum network.
The cryptocurrency’s market dominance in the industry is also growing. Ether now represents 15.1% of the overall market for digital assets. Bitcoin (BTC), meanwhile, has seen its dominance fall below 50%.