Ethereum's growth has propelled the cryptocurrency as one of the most traded world assets over the last 30 hours, a new update by CompaniesMarketCap.com shows.
Thanks to Bitcoin's monumental dash, other cryptocurrencies have been benefiting as well.
Ethereum saw its price grow by 13% in a little over a day. So far in 2021, the currency has gone up 62%, with one explanation being that people are purchasing an alternative of Bitcoin, which is now too expensive for rank-and-file investors to get in on.
The price of ETH has recently crossed $1,200, no doubt pegged to the current surge in interest in BTC. Overall, the currency's valuation sits at $53 billion so far in terms of market cap and that is placing Ethereum #100 in the list of most traded assets.
Bitcoin, on the other hand, is ranked 10th with $697.03 billion in market cap. Now, it's worth mentioning that the website doesn't necessarily rank all assets in comparative terms and there are many factors that determine the valuation and market cap of assets.
Still, Ethereum breaking onto the list is a confirmation that cryptocurrency are on the rise in 2021. The year will be pivotal for consumers who are looking to see if the crypto craze that started in 2020 will last or it will turn out a fad.
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