Ryan One of the most outspoken supporters of Ethereum, Sean Adams, mockingly predicted that the “ultimate bottom signal” would come when the price of McDonald’s fell below the value of Ethereum.
The most valuable cryptocurrency is valued at $187 billion, according to statistics from CoinGecko. In terms of market valuation, this places it above a number of significant multinational firms.
Ethereum remains above some global giants
The present market value of Ethereum surpasses that of several well-known multinational companies. With a valuation of $186.35 billion, Thermo Fisher Scientific, a market leader in scientific research services, is just behind Ethereum.
PetroChina, a significant oil and gas business in China, with a market cap of $185.28 billion. The worth of Linde, a significant participant in the industrial gases market, is $184.38 billion. The pharmaceutical behemoth Pfizer is valued at $181.29 billion. The enormous telecom company China Mobile is valued at $181.15 billion.
Finally, Adams made a lighthearted allusion to the enormous fast-food chain McDonald’s, which is valued at $180.95 billion.
Will Ethereum drop below McDonald’s?
Due to an accumulation of negative events over the past few months, Ethereum has been losing market share. Concerns about the Ethereum network’s declining activity were raised when JPMorgan Chase reported a 12% decline in daily transactions following the Shanghai upgrade in April. Another 8% decrease in the total value locked on the Ethereum network. Ethereum’s problems were made worse by the fact that many new Ether futures ETFs launched in the United States to little fanfare and “shockingly low” trading volumes.
Some experts, though, continue to be quite positive on the long term. Recently, the world’s largest bank, Standard Chartered, predicted a bright future for Ethereum, speculating that its native coin, Ether, may reach the $8,000 mark in the next two years.
