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Ethereum $358 Billion Market Cap Overtakes Nestle and P&G

Ethereum_market_cap_hits_337_billion_surpasing_nestle,_p&g_and_Roche
  • Ethereum’s market cap hits a new high at $358 billion.
  • The price surge makes ETH surpass major companies.
  • Investors staking in the ETH 2.0 contract have the option of becoming a total validator or joining a pool.

Ethereum‘s (ETH) price has surged more than 200% in 2021. As a result, its market cap has recorded a new high of $358 billion. For this reason, the $358 billion bullishness has eventually pushed the value of the Ethereum network. Also, the price surge has influenced ETH to surpass heavyweight companies like Procter & Gamble ($326 billion) and PayPal ($308 billion).

Furthermore, the market cap value is obtained by calculating the last trade price by the total outstanding quantity of coins. Therefore, it seldomly shows the average amount where most investors transacted.

Source: Infinite Market Cap
Source: Infinite Market Cap

According to data from Infinite Market Cap, ETH recently surpassed the market cap of Nestle, Procter & Gamble, PayPal, and Roche.

On the other hand, ETH has an average of 2,320 monthly developers, according to the Electric Capital’ Developer Report’. Though it is not a secular firm, its decentralized applications (DApps) manage over 100,000 daily active addresses. Even more important is the $12 billion daily transfer and transactions on the Ethereum network.

Meanwhile, investors staking in the Ethereum 2.0 contract have the option of becoming a total validator or joining a pool. However, they could still lose their coins due to malicious activity or by failing to validate network transactions. These related risks appear when giving Ether via centralized services and decentralized protocols.

Moreover, listed firms can create new shares to benefit from excessive valuations or increase their cash position. Also, tax changes, operational liabilities, and regulatory changes are other risks that stockholders sometimes face.

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A Computer Engineering graduate who writes news focuses on cryptocurrency-related and blockchain technology. He is enjoying using his skills to contribute to informing people of the exciting technological advances that happen every day.