Market Cap Reaches US$464.5 Bil. on Sept. 6
The price of Ethereum has topped US$4,000 again and its market cap exceeded that of Samsung Electronics.
The market cap of the cryptocurrency increased to US$464.5 billion on Sept. 6, the 18th-largest in the world. That day, Johnson & Johnson came in 19th with a market cap of US$460.8 billion and Samsung Electronics came in 20th with US$449.4 billion. For reference, the 16th and 17th are J.P. Morgan (US$476.6 billion) and Alibaba (US$472.1 billion), respectively.
The rally of the cryptocurrency has to do with the network upgrade carried out last month and the popularity of Ethereum-based NFTs. According to experts, the network-upgraded cryptocurrency can be viewed as a deflationary asset like Bitcoin and its price will follow the price of Bitcoin.