In a sign of the influence cryptocurrency has globally, Ether is now the 24th largest asset in the world. Overtaking Walmart, Ether is becoming a leading asset in the world economy. This fantastic news comes as cryptocurrencies gain more and more traction in the global market.
Ether (also known as ETH) is the transactional token that facilitates operations on the Ethereum network.
In recent months ETH has surpassed some of the most globally recognised companies in the world by market cap. These notable names include Home Depot, JP Morgan, and Walmart.
Walmart is one of the biggest companies in the world, with over 10,500 stores worldwide. Although the company primarily operates in the United States, it employs over 2.2 million staff. It would have been impossible to comprehend how a cryptocurrency could overtake a huge company ten years ago.
Now, as Ether is the 24th biggest asset globally by market cap, it is encouraging to see the remarkable progress the Ethereum network is making.
Due to the popularity of DeFi and NFTs, ETH is growing at a phenomenal rate. Meanwhile, in the coming months, Ethereum will transition to ETH 2.0, a new proof-of-stake model. Additionally, if Ethereum continues to upgrade and adapt to changing needs, it could become the number one cryptocurrency globally in the coming years.
Finally, Ether is currently the 24th biggest asset worldwide, but it is not slowing down. Who knows how high it can go. Only time will tell.