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