Binance CEO Changpeng Zhao, in a tweet he published, pointed out that Etereum’s current capitalization of $ 73 billion is greater than that of famous companies such as Spotify, GM, Baidu, Ferrari and BMW. He also added that Binance Coin’s (BNB) market cap is significantly smaller than Ethereum, but larger than Xerox.
Industries shift. https://t.co/3z0SvxEVji
– CZ Binance (@cz_binance) December 26, 2020
For comparison, the companies listed by CZ have the following market capitalization:
- Spotify – $ 61.61 billion
- General Motors (GM) – $ 59.51 billion
- Baidu – $ 65.04 billion
- Ferrari – $ 36.28 billion
- BMW – $ 47.18 billion
- Xerox – $ 4.48 billion
CZ noted that with ETH 2.0 and Binance Smart Chain, both Ethereum and Binance Coin (BNB) have a bright future ahead of them. Moreover, DeFi is constantly gaining acceptance as an alternative form of investing. Each of these networks will eventually be home to multiple DeFi protocols, thus increasing the value of their respective native digital assets.
BTC capitalization is ahead of Visa
CZ’s comments on Ethereum’s capitalization came after Bitcoin overtook Visa in terms of market cap. Bitcoin’s current market capitalization is $ 507 billion.
The oldest cryptocurrency may soon reach greater market capitalization than Visa and Mastercard combined. To achieve this goal, the BTC market cap would have to rise to US $ 822.76 billion, and its price would have to exceed US $ 44,300 in the near future. Looking at the recent surge in cryptocurrency interest among institutional investors, such a scenario is possible.
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