In Nov. 2021, bitcoin’s market valuation managed to make it into the top ten list of assets ranked by market capitalization, as it was the eighth largest market cap last year on Nov. 9. Since then, bitcoin is 75% lower in value against the U.S. dollar and the leading crypto asset’s market capitalization has dropped down to the 26th largest position among the most valuable assets and companies worldwide.
Bitcoin’s market cap is just below Chevron’s and just above Home Depot’s market valuation
Exactly one year ago in November 2021, the market capitalization of bitcoin (BTC) was the eighth largest among the myriad companies and assets traded around the world. At the time, on November 9, 2021, an archive.org snapshot collected from companiesmarketcap.com showed BTC had a market valuation of $1.289 trillion as each unit was swapping for over $68K.
On that day, BTC’s market cap was below the precious metal silver’s overall valuation, which was $1.380 trillion on Nov. 9, 2021. The leading crypto asset was just above Tesla’s $1.167 trillion market valuation recorded 395 days ago. Additionally, ethereum (ETH) was situated in the top 20 positions of assets ranked by market capitalization as ETH held the 15th largest market cap on Nov. 9, 2021.
At that time, the market valuation of ETH was around $570.45 billion as Ether was exchanging for $4,839 per unit. The market cap of Ethereum was less than that of the company Tencent, which had a market valuation of around $588.07 billion. The market cap of the second leading crypto asset was above JPMorgan Chase’s valuation of $499.61 billion 395 days ago.
Today, on Dec. 9, 2022, the top two leading crypto assets BTC and ETH have much lower valuations than they did a year ago. Bitcoin is not represented in the top ten standings of assets ranked by market capitalization as it’s now within the top 30 positions and ranked at 26. The $331.76 billion market cap BTC holds today is just below Chevron’s market cap of around $335.56 billion.
Furthermore, bitcoin’s market capitalization is well above Home Depot’s overall market valuation, which is valued at $330.30 billion as of December 9. Ethereum has dropped significantly from the 15th largest position as it is now ranked 72nd by market capitalization. Approximately 155.25 billion dollars. Ether’s market cap is less than that of United Parcel Service (UPS) at $155.36 billion, and just above the valuation of Adobe ($154.61B).
Ethereum’s current market price is roughly 73.7% lower than it was 395 days ago on Nov. 9, 2021. Though BTC and ETH have seen their market caps drop lower during the last year, the same can be said for a large number of different assets and companies. Some assets, like gold’s overall market valuation, conversely recorded increases over the last 12 months. Gold’s cap in Nov. 2021 was around $11.605 trillion, and today it’s worth $11.910 trillion.
Microsoft was the second largest asset a year ago, but is now in the third position as Microsoft’s valuation has dropped from $2.53 trillion to today’s $1.844 trillion. Google or Alphabet had a market cap of around $1.98 trillion and was at the fifth position 395 days ago on November 9, 2021, and it declined to $1.213 trillion on December 9, 2022. Silver moved from seventh to fifth position in the top ten list, but the market capitalization of the precious metal still fell from $1.38 trillion to today’s $1.316 trillion.
