Ethereum has successfully managed to join the club of $200 billion with an increased market capitalization and exceeded many secular firms including AT&T and Novartis.
At the very beginning of this year of 2021, ETH has surged by almost 150% that has resulted in an increase in the market cap which has spiked over $200 billion. Many of the traders are now concerned about their unitary price although that is totally arbitrary. Due to this, they are missing relevant landmarks and comparable.
New Club Joined By Ethereum
The investors, especially the ones coming from a conventional industry, usually compare several of the sales, earnings as well as market share. In the meantime, while the valuing of cryptocurrency with many use cases, not a single metric was existing to measure the potential.
Ethereum may be simultaneously functioning as a virtual store for valuation during the working of the token that is needed to access their network.
The make myopia evident which was caused due to the unitary prices, the Cardano has been reduced in price to $1. Even though the market cap is more than $26 million. As a result, the extraordinary figure of coins is equally important. On the other hand, the unitary price of Cover Protocol is approximately $1600 despite the market cap maintaining $100 million.
The market cap of Ethereum has recently exceeded AT&T, Novartis, and Cisco. Therefore, the comparisons reveal a lot to investors.
Novartis is a Swiss-based company that was founded in 1857. They have more than 110,000 employees and this drug-making firm released their new income for the year 2020 that was almost $8.1 billion.
Cisco was ordered to pay a lawsuit in October 2020 that was $1.9 billion while AT&T had been sued for $1.35 billion.
