Ethereum, the second-largest cryptocurrency, has outperformed Bank of America in terms of market value. Despite recent price oscillations in cryptocurrencies in general, Ethereum has risen to $3,043.85 at the time of writing.
The digital coin has also amassed a market valuation of $366.62 billion, ranking it as the world’s 23rd biggest asset. It outperforms Bank of America, which has a market worth of $347.51 billion and is now ranked 27th.
Ethereum’s rapid ascent has also seen it overcome larger corporations like as MasterCard, an American payment services company that presently has a market valuation of $337.12 billion and ranks third.
The cryptocurrency has also surpassed Home Depot, the largest home improvement store in the United States, which has a market worth of $331.07 billion and ranks third. While Ethereum has a large market cap at the moment, Bitcoin, the top cryptocurrency, is not far behind.
Bitcoin now has the ninth greatest market capitalization of $816.04 billion. This puts the trading currency above of prominent corporations like Meta (Facebook), which ranks 12th with a market worth of $610.28 billion. The leading cryptocurrency continues to outperform other corporations like as Visa, Walmart, and Samsung.
The surge in cryptocurrency popularity throughout the world has come at an opportune time, particularly during this period of conflict between Russia and Ukraine. Ukraine, the devastated country, has used cryptocurrency to bolster its economy and help it amid the conflict.
When the battle first broke out, the administration asked for cryptocurrency donations. Individuals, bitcoin exchanges, and even crypto millionaires responded to the call. All of this has contributed to the country raising more than $63.8 million through the contribution of over 120,000 crypto assets.
In the midst of the continuing conflict, the Ukrainian government approved cryptocurrency last week. The administration has stated that it is attempting to change the tax code to accommodate crypto assets. For the people of Ukraine, cryptocurrency has proven to be a lifeline.
02 Feb 2023
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