{"id":125707,"date":"2025-03-24T16:19:05","date_gmt":"2025-03-24T16:19:05","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125707"},"modified":"2025-03-24T16:19:05","modified_gmt":"2025-03-24T16:19:05","slug":"ethereum-down-57-from-its-all-time-high-but-its-still-worth-more-than-toyota","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125707","title":{"rendered":"Ethereum down 57% from its all-time high, but it\u2019s still worth more than Toyota"},"content":{"rendered":"

Source: Cointelegraph.com NewsEther is trading at around half its all-time high price, but the Ethereum network is still valued higher than some of the world\u2019s most prominent companies.
\nEther (ETH) traded at roughly $2,088 at the time of writing amid continued exchange-traded fund (ETF) outflows, down over 57% from its all-time high of nearly $4,900 set in mid-November 2021, according to CoinMarketCap data.
\nDespite this decline, Ethereum maintains a market capitalization of nearly $252 billion, surpassing global corporations such as Toyota ($250 billion) and the total market value of the precious metal platinum ($245 billion).
\nOther notable companies currently worth less than the Ethereum network include IBM, McDonald\u2019s, General Electric, Shell and Disney. If Ethereum were a company, it would be the fiftieth largest in the world, just behind Nestl\u00e9, with its market capitalization of nearly $256 billion.
\nAlex Obchakevich, founder of Obchakevich Research, told Cointelegraph that speculative interest significantly contributes to Ethereum\u2019s valuation, as well as its \u201cfreedom from the financial framework of traditional finance.\u201d He added:
\n\u201cEthereum is about the future, about new financial technologies and solutions. The project is still very young and attracts many new and young investors who are ready to take risks. I believe that the average Zoomer will choose Ethereum for investment rather than Toyota or IBM shares.\u201d
\nFlavio Bianchi, a Polkadot ambassador and the chief marketing officer of the decentralized fundraising platform Polimec, told Cointelegraph that the comparison is less insightful than it might appear at first. He highlighted that \u201cEthereum isn\u2019t a business\u201d \u2014 it\u2019s infrastructure. He explained:
\n\u201cIts value doesn\u2019t come solely from revenue or profit but from usage and belief in its future role. It enables people to build, transact, issue assets and coordinate without intermediaries.\u201d
\nObchakevich also suggested Ethereum became more attractive after it transitioned to proof-of-stake (PoS), reinforcing \u201cits value as a deflationary asset with growth potential in the digital economy.\u201d
\nRelated: ETH may reclaim $2.2K \u2018macro range\u2019 amid growing whale accumulation
\nIs Ethereum a deflationary asset?
\nRecent data from Ultra Sound Money shows that Ethereum is inflationary again, with an annual inflation rate of about 0.73% over the past 30 days.
\nThe rate of inflation or deflation is largely dependent on the ETH fees burned by the network and the amount of newly issued Ether. Fees have been burned on the network since the implementation of EIP-1559 in 2021, which, paired with decreased issuance after the PoS transition, resulted in Ethereum being deflationary during sustained network activity.
\nIntoTheBlock data shows that on March 23, daily fees on Ethereum fell to a little over $337,000, the lowest value reported since June 2020. YCharts also shows that on March 23, there was only 118.67 ETH worth of fees, the lowest value reported this year.
\nEthereum network transaction fees per day. Source: YChartsOver the past 24 hours, ETH\u2019s value rose nearly 3.5%, increasing its market capitalization by about $9.3 billion, now totaling approximately $252.1 billion. For comparison, this figure exceeds Greece\u2019s gross domestic product (GDP), currently around $243.5 billion.
\nRelated: Ethereum eyes 65% gains from \u2018cycle bottom\u2019 as BlackRock ETH stash crosses $1B
\nObchakevich highlighted that other than being worth more than Greece\u2019s GDP, Ethereum\u2019s market cap is also higher than the GDP of countries such as Slovenia and Croatia combined. He said this is more than a curious factoid:
\n\u201cFor institutional investors, it is a sign of legitimacy. Ethereum is valued for smart contracts, and DeFi has a TVL [total value locked] of over $124 billion, seeing it not only as speculation but as the infrastructure of the future.\u201d
\nPradeep Singh, CEO of enterprise privacy and security infrastructure firm Gateway FM, told Cointelegraph that these numbers reflect \u201ca fundamental shift in how we value digital infrastructure\u201d:
\n\u201cWhat we\u2019re witnessing is a growing recognition that significant portions of the global economy will eventually migrate to this infrastructure. Ethereum\u2019s market capitalization is essentially pricing in its future role as the settlement layer for everything from financial services to supply chain management.\u201d
\nThe Ethereum protocol continues to evolve as developers introduce innovations such as native rollups, further expanding the blockchain\u2019s capabilities and potential use cases.
\nMagazine: MegaETH launch could save Ethereum\u2026 but at what cost?Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsEther is trading at around half its all-time high price, but the Ethereum network is still valued higher than some of the world\u2019s most prominent companies. Ether (ETH)… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125707"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125707"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125707\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125707"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}