Ethereum (ETH), the second-largest cryptocurrency by market cap, has seen a meteoric price surge in recent weeks, leading to its price breaking above the $ 3,000 mark.
As the digital currency rises in price, its market capitalization among the world's largest assets continues to rise, earning it a worthy place among the world's most valuable assets.
And with the looks of things, Ethereum (ETH) is still in the early stages of its rise, due to the fact that the crypto market is currently in the middle of a bull cycle.
Ethereum (ETH) is now the world's 20th largest asset
At the time of this report, Ethereum (ETH) is trading at $ 3,581, with a market capitalization of $ 414 billion.
According to companiesmarketcap.com, Ethereum is currently the 20th largest asset in the world. This implies that the leading smart contract platform is now larger than notable companies, such as Nestlé, Mastercard, Bank of America, SPDR S&P 500 ETF Trust, UnitedHealth, among others.
Ethereum is now closer to surpassing Johnson & Johnson, which currently ranks as the 19th asset, with a market capitalization of relatively $ 439 billion.
As mentioned above, Ethereum has enough room to rise further in terms of price, as many cryptocurrency analysts remain optimistic that the major digital currency could hit the $ 10,000 region before the end of the current bull cycle.
Ethereum (ETH) continues to reduce market dominance of Bitcoin (BTC)
The current rise in the price of Ethereum (ETH), which led to the investment of notable companies and assets in the world, is also reducing the market dominance of Bitcoin (BTC), the largest digital currency by market capitalization.
In recent days, the flagship cryptocurrency has been trending sideways, with no significant price uptrend, while Ethereum (ETH) and other altcoins continue to trend upward.
At the time of this writing, Bitcoin only dominates the crypto market by 45.1%, while Ethereum has risen to 16.9% according to CoinMarketCap.