[Blockchain Today Reporter Jihye Han] Cointelegraph reported that Ethereum (ETH) showed a new high price, and the cumulative market value exceeded the value of mined platinum.
According to TradingView data, on the 28th (local time), Ethereum’s price reached the highest at $2,741.78. Currently worth about $2,730, ETH has a market capitalization of $3154 billion.
According to CoinMarketCap, ETH is currently the 33rd most valuable asset in the world and exceeds precious metal platinum. The market capitalization of mined platinum, which is currently estimated at about $330 million, is derived from an analysis of the cumulative production of commodities since 1900. CoinMarketCap estimates that about 250 million ounces of platinum were mined, using data from STATISTICA and Johnson Matthes Technology Review.
Platinum is a precious metal that boasts the best performance this year, but it is slow compared to ETH and other cryptocurrencies. In addition, platinum recorded nearly 14% annual revenue, but silver and gold declined.
ETH could make a new milestone in the near future. The next six most valuable companies or assets currently have a market cap of less than $35 billion, almost all of which operate in traditional industries.
In terms of overall performance, ETH’s year was outstanding. It is the second-largest cryptocurrency based on the total market value, and has increased by more than 360% since the strong surge on January 1, and is supported by increased adoption of decentralized finance and optimism over the upcoming’Ethereum improvement proposal.
ETH’s recent performance is gaining momentum from news that European investment banks are launching a new’digital bond’ product on the Ethereum network.
Ethereum’s market dominance is also growing. It now accounts for 15.1% of the digital asset market. Meanwhile, the dominance of Bitcoin (BTC) has fallen to less than 50%.
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