Bitcoin continues to shine among the world's leading financial assets. Recent data reveals that its market capitalization now rivals those of many traditional companies, approaching that of Silver.
Bitcoin Poised to Overtake Silver Once Again
Bitcoin is not letting itself be defeated in its race towards the crown of financial assets. In February, the queen of cryptos managed to gain the upper hand on silver. Although the recent decline has disrupted trends, BTC does not want to give up and intends to regain the advantage.
According to a study by Crypto Rank, Bitcoin ranks 9th rank of financial assets with a market capitalization of $1.33 trillion, second only to silver at $1.8 trillion.
Ethereum is not to be outdone, rising to 24th place with 455 billion dollars, even surpassing the giant Mastercard and its 413 billion. But the real challenge for these main cryptos remains gold, which sits in the lead with a pharaonic capitalization of 15,700 billion dollars.
Bitcoin and Ethereum, a domination which is confirmed on the crypto market
Unsurprisingly, Bitcoin and Ethereum reign supreme in the crypto market with more than 70% combined market share, according to data from CoinMarketCap.
Despite a total market capitalization still far from that of gold, cryptos still weigh more than 2,500 billion dollars. Bitcoin alone represents 53%, with 1.3 trillion, while Ethereum captures 18% of the market with 453 billion.
This concentration gives the two leaders considerable power of influence: the slightest variation in their price has repercussions on the entire crypto ecosystem.
After a spectacular surge in recent months, Bitcoin and Ethereum have taken a break in recent days. BTC is trading around $67,000, down almost 3% from its recent highs. For its part, ETH is hovering around $3,750, down 2% on the May 29 session.
Bitcoin and Ethereum may be close to the stars, but gold retains its throne for the moment. But with their growing adoption and technological innovations, there is no doubt that the two main cryptos still have good prospects ahead of them.
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