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For the First Time Ever, Ethereum’s Market Cap Exceeded That of Platinum

Ether is getting closer to entering the top 30 of the most valuable assets in the world after it reached a new ATH, which clearly indicates that the cryptocurrency is experiencing a strong bull market.

Yesterday, the Ether price peaked at $2,741.78. It currently has a value of close to $2,700 and a market capitalization of $315.4 billion.

As a result of this growth, Ether became the 33rd most valuable asset in the world, surpassing the precious metal platinum, which has a market capitalization of $303 billion.

Platinum is indeed the best-performing precious metal in 2021, but its gains can’t compare to those made by cryptos such as Ether. Platinum has had a return of about 14% year-to-date, while silver and gold, both declined.

Ether may reach new highlights in the next couple of weeks or months as the next six most valuable companies or assets are just $35 billion away from its current market cap.

Ether has gained more than 360% since January 1st as a result of a powerful bull market, increased adoption of DeFi, and optimism regarding the upcoming Ethereum Improvement Proposals.

This week, the price performance of Ether got a boost after it was announced that the European Investment Bank is creating a new “digital bond” offering on the Ethereum network.

Also worth mentioning is the fact that Ether now represents 15.1% of the total market for digital assets.

Source: CoinTelegraph.com

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