Ethereum market cap hits $337 billion, surpassing Nestle, P&G and Roche

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Ether (ETH) price has rallied more than 200% in 2021, resulting in a massive $337 billion market capitalization. This impressive figure pushed the value of the Ethereum network ahead of the total market cap of major companies like Procter & Gamble's ($326 billion) and PayPal's $308 billion.
The market cap figure is achieved by multiplying the last trade price by the total outstanding number of coins, regardless of whether they've been moved. Therefore, it seldomly reflects the average price where most investors transacted.
For investors from traditional finance, 'value' is assessed by comparing multiples and valuations. These are often calculated in the form of earnings, sales, and market share, and attempting to apply these same 'value' metrics to cryptocurrencies with multiple use cases creates uncertainty and discomfort. Source