Ether, the second largest cryptocurrency in the market by capitalization, has just joined the select group of the 100 largest assets in the world by market cap.
Ether is currently at position 92 on the list after surpassing other giants such as Morgan Stanley or Wells Fargo.
The price of the crypto has posted a spectacular increase over the last weeks following Bitcoin. As a result, ETH is trading above $1,200, a level it has not reached since January 2018. This increase in its price has resulted in its market capitalization exceeding $135B.
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Last year it experienced an increase of $53B, which has allowed it to surpass the capitalization of several international conglomerates such as Wells Fargo, AstraZeneca or Morgan Stanley.
However, we should not forget the different assets are not necessarily directly comparable due to the fact that the calculation of the market capitalization is usually done by multiplying the price of a share by its total number of shares, while in the case of cryptos, this is calculated by multiplying the price of a currency by its total supply.
In any case, it is a milestone that two cryptocurrencies, an industry that in the past has been despised by many, have sneaked into the world's top 100 assets by market capitalization.