Bitcoin Market Cap Drops, From 8th Most Valuable Asset In The World To 26th Place
Bitcoin made it into the top ten list of the most valuable assets in the world, taking the 8th position on November 9, 2021.
But since then, the value of Bitcoin is 75 percent lower than the US dollar and the market capitalization of the leading crypto asset is now down towards the 26th position among the most valuable assets and companies worldwide.
Launching from Bitcoin News, on November 9, 2021 the Bitcoin market valuation reached 1.289 trillion US dollars, because every 1 BTC is worth more than 68 thousand US dollars.
At that time, BTC’s market capitalization was below the overall valuation of the precious metal silver, which was 1.380 trillion US dollars. Bitcoin is even right above Tesla’s market valuation of 1.167 trillion US dollars which was recorded on November 9, 2021.
While Ethereum (ETH) is in the list of top 20 assets holding the 15th largest market capitalization as of November 9, 2021.
At that time, the valuation of ETH was around 570.45 billion US dollars, because every 1 ETH was exchanged for 4,839 US dollars. Ethereum’s market capitalization is under that of Tencent company which has a valuation of around 588.07 billion US dollars.
The market capitalization of the second leading crypto asset in the world is above JPMorgan Chase’s valuation which reached 499.61 billion US dollars 395 days ago.
Meanwhile, on Friday (9/12/2022), BTC and ETH have a much lower valuation than last year.
Bitcoin does not make it into the top ten of the asset rating by market capitalization, as it is now in the top 30 and ranks 26th.
Bitcoin’s current market cap stands at $331.76 billion, just below Chevron’s around $335.56 billion market cap.
Furthermore Ethereum has fallen far from being the 15th largest, and is currently occupying the 72nd position with a market capitalization of 155.25 billion US dollars.
Ether’s market capitalization is below United Parcel Service (UPS) at US$155.36 billion, and just above Adobe’s valuation of US$154.61 billion.
While BTC and ETH have seen their market caps drop lower over the last year, the same has been the case for a large number of other assets and companies.
However, some assets, such as the overall gold market valuation, have recorded increases over the past 12 months. Gold capitalization in November 2021 was around 11.605 trillion US dollars, and today it is valued at 11.910 trillion US dollars.
Microsoft was the second largest asset last year, but is now in third place as Microsoft’s valuation has fallen from US$2.53 trillion to US$1.844 trillion at this time.
Google’s or Alphabet’s market capitalization is around 1.98 trillion US dollars and was in fifth position a year ago. Currently, Google’s capitalization is down to 1.213 trillion US dollars.
Silver’s position in the top ten list rose from seventh to fifth, but the precious metal’s market capitalization fell from $1.38 trillion to $1.316 trillion.
