Crypto and finance news website Watcher.Guru recently announced on Twitter that Ethereum (ETH) has a larger market capitalization than The Bank Of China.
A majority state-owned bank based in Beijing, The Bank Of China is the fourth largest bank in the world and was founded over 100 years ago. Little could its founders have known that someday it would be overtaken by a currency that was invisible to see and entirely based on blockchain technology.
As it stands, The Bank Of China, in November 2022, has $118 billion in market capitalization. Ethereum, on the other hand, has $149 billion in market capitalization.
Is this a sign that traditional banking as we know it will eventually succumb to the popularity of cryptocurrencies? And will tokens such as Big Eyes Coin (BIG) become more popular than fiat currency?
While Ethereum may have $31,000,000,000 more market capitalization than The Bank of China, it also has more market capitalization than the 3rd, and 2nd, largest banks in the world (Agricultural Bank of China and China Construction Bank)
This means that it falls just short of the largest bank in the world: Industrial and Commercial Bank of China Limited (ICBC), which has a market capitalization of $197.12 billion. The ICBC ranks as the 45th largest company in the world.
At one point, Ethereum had garnered a staggering market capitalization of $547 billion in late 2021. If it had maintained that same level, it would almost be the same capitalization as Tesla (TSLA). Consequently, the crypto market continues to prove that the popularity of blockchain is not going away.
Built on the Ethereum blockchain, Big Eyes Coin is a presale meme coin that has the potential to bring about the mass adoption of cryptocurrency. The reason for this is that it is almost the complete opposite of traditional banking and finance.
Big Eyes Coin breaks every expectation regarding currency, but this very prospect could foster immense popularity.
The world is changing. Internet culture and power are slowly taking over the globe. The rise of memes and pictures of cute cats has affected almost every person's life. Big Eyes Coin combines the two of them. A meme coin with a cat character, Big Eyes Coin, is in the right position for an audience that will only exponentially increase with time.
While the largest companies by market capitalization remain to be commercial companies and banks that for the most part, host "serious" brand personas, the world is becoming more ironic and versed in internet culture than we'd like to admit.
Even the more serious cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), might be anxiously watching to see if meme currencies take off.
In the meantime, Ethereum's position in the world's finance market is only a sign that our planet is changing. One where a meme currency about a cute cat saving the world's oceans can grow immensely popular.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.