Ethereum (ETH) is surpassing certain S&P 500 companies in a distinct metric, therefore transcending its basic function as the second-largest digital currency by market capitalization. In terms of repurchase yield, Ethereum is presently placed 16th, according to a report from the cryptocurrency research portal Token Terminal.
The ranking released by the platform shows that Ethereum beats over a few well-known companies, such as Elon Musk’s massive electric vehicle manufacturer Tesla Inc. and global banking behemoth JPMorgan Chase. This accomplishment demonstrates that Ethereum is more than simply a platform for smart contracts; it also has what it takes to be a competitive player in the financial technology space.
https://x.com/tokenterminal/status/1781022702259638351
Token Terminal made an interesting statement on the remarkable statistic: Ethereum is just nine years old, compared to the 44-year-average age of the companies on the list. Ethereum only appeared in 2015, yet companies like JPMorgan Chase first opened for business back in 1799.
Token Terminal used this distinction to highlight the potential profitability of internet-native businesses, particularly when their unique inventions are given the freedom to express themselves.
Ethereum changes Web3 game
Each business on the buyback yield list offers something different to the table. Ethereum is in the same boat. Though JPMorgan is thought to be the largest bank in the United States, Alphabet Inc., the firm at the top of the list, is a massive player in technology and cloud services.
By paving the way for developers to create decentralised apps, Ethereum functions as a smart contract enabler and has contributed to the growth of its decentralised finance (DeFi) Total Value Locked (TVL) to $92.74 billion.
In terms of whale holdings, Ethereum is the second-most-backed cryptocurrency project after Bitcoin (BTC). Despite being the de facto leader in Web3 adoption, it has received a number of updates to improve its features across the board.
