Biggest fast food corporation in world gains lead against second biggest cryptocurrency in world
The FTX drama has gone unnoticed on the cryptocurrency market, with most assets including Ethereum, With another drop below $1,500, Ethereum’s market cap is once again below McDonald’s.
The world’s most popular fast-food chain has always held a special place in the cryptocurrency trading and investing community. After the end of every bullrun on the market, the majority of cryptocurrency traders and influencers have to cope with an unstoppable flurry of wisecracks about getting ready to work at McDonald’s.
The joke originated from the fact that the requirements to join a fast-food company are very low, and a job in the company is available to anyone who wants it. The company itself joined the trend and provided job opportunities to major crypto influencers during the crisis on the digital asset market.
However, there is one more battle between McDonald’s and the cryptocurrency industry, which is the battle of capitalizations. Both Ethereum and McDonald’s have matching places on the market. The biggest fast-food corporation in the world has approximately $200 billion, while Ethereum reports $197 billion after the most recent 8% plunge.
Considering the nature of both entities, Ether could flip McDonald’s at any time, while the corporation’s capitalization would remain roughly the same level due to the low volatility in the stock market.
From a financial or market perspective, capitalization of Ethereum is not relevant and has almost no effect on the second biggest cryptocurrency in the world. As we mentioned in our market reports numerous times, the main reason behind the poor performance of the digital assets market is the strict monetary policy of the United States that pushes investors away from risky assets like cryptocurrencies.
