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Ether on capitalization bypassed Ferrari and BMW

The capitalization of the largest altcoin ether (ETH) has reached $ 79.086 billion. The coin has risen in price by 8% over the past 24 hours to $ 695. Changpeng Zhao, CEO of the Binance crypto exchange, drew attention to the fact that ETH has already surpassed such auto giants as Ferrari and BMW in terms of capitalization. In addition, Zhao tweeted that the largest altcoin also surpassed Spotify, GM and Baidu in terms of capitalization. According to Google, the capitalization of Spotify, General Motors (GM), Baidu, Ferrari and BMW is now $ 61.6 billion, $ 59.5 billion, $ 65 billion, $ 36.2 billion and $ 47.1 billion, respectively. In parallel, the CEO of Binance noted that the capitalization of the Binance Coin (BNB) token is also growing steadily ($ 4.89 billion). According to this indicator, the cryptocurrency has already surpassed Xerox ($ 4.48 billion). Institutional capital’s interest in Ether increased in 2020. It is enough to pay attention to the increase in investment in the Ethereum Trust company Grayscale. Messari analyst Ryan Watkins predicts that capital inflows into ETH will be even more significant in 2021. The key event will be the launch of futures on the Chicago Stock Exchange (CME). The new product will become available to investors in February next year. Many observers expect altcoin to significantly strengthen its market position over the next 12 months. Some investors are already focusing exclusively on ether.

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