Crypto Currency

Nvidia soars 2,782% in five years, outshining Bitcoin and Ethereum

Key Takeaways Nvidia’s market cap grew 2,782.8% over five years, outperforming both Bitcoin and Ethereum The combined market cap of Magnificent Seven, Bitcoin, and Ethereum reached $17.44 trillion by June 2024 Share this article URL Copied Image: CoinGecko However, the report highlights the divergence between Bitcoin and Ethereum growth after the SEC approved the first

Key Takeaways

  • Nvidia’s market cap grew 2,782.8% over five years, outperforming both Bitcoin and Ethereum
  • The combined market cap of Magnificent Seven, Bitcoin, and Ethereum reached $17.44 trillion by June 2024

Share this article

Nvidia has experienced a staggering 2,782.8% increase in market capitalization over the past five years, surpassing the growth of both Bitcoin and Ethereum. According to a report by data aggregator CoinGecko, from May 7, 2019, to June 28, 2024, Nvidia’s market cap surged from $105.42 billion to $3.039 trillion.

In comparison, Ethereum’s market cap grew by 2,218.3%, rising from $18.16 billion to $421.00 billion during the same period. Bitcoin, starting from a higher baseline of $103.98 billion, saw its market cap increase by 1,102.2% to reach $1.250 trillion.

Among the Magnificent Seven stocks, only Nvidia outperformed both major crypto. Magnificent Seven is the name of the group of public-listed companies Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Meta Platforms (META), Amazon (AMZN), Nvidia (NVDA), and Tesla (TSLA).

Image: CoinGecko

Tesla came in second with a 1,340.8% increase, while other tech giants like Microsoft and Apple saw more modest growth of around 245%.

The combined market cap of the Magnificent Seven, Bitcoin, and Ethereum reached $17.44 trillion by June 28, 2024, with the two crypto accounting for 9.6% of this total.

Image: CoinGecko

However, the report highlights the divergence between Bitcoin and Ethereum growth after the SEC approved the first spot Bitcoin exchange-traded funds (ETF) in January 2024.

“Bitcoin market cap increased from $838.38 billion to $1,250.00 billion, representing 50% market cap growth. In the same period, Ethereum market cap increased from $281.14 billion to $421.00 billion, also representing a 50% growth. This is not surprising, given that Ethereum is set to get its own lineup of ETFs. However, Ethereum’s market is significantly smaller than Bitcoin’s, so one might have expected better performance from it.”

Share this article

?xml>?xml>?xml>
Read More

Be the first to write a comment.

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Currency

What Is Next for Ripple’s XRP? Whale Activity and Stablecoin Approval Boost Optimism

Just a few days after Ripple’s stablecoin officially obtained approval from the New York authorities, optimism remains high about the cryptocurrency’s potential. Although the price is consolidating in the daily chart, the trend is positive in the weekly chart. The price at the time of publication was $2.41…

Just a few days after Ripple’s stablecoin officially obtained
approval from the New York authorities, optimism remains high about the cryptocurrency’s potential. Although the price is consolidating in the daily chart, the trend is positive in the weekly chart. The price at the time of publication was $2.41…
Read More

Continue Reading
Crypto Currency

Shiba Inu (SHIB) or Lightchain AI? Which Holds the Real Long-Term Potential?

The cryptocurrency market has seen its fair share of attention-grabbing stories, with Shiba Inu (SHIB) capturing the hearts of meme-coin enthusiasts and Lightchain AI (LCAI) positioning itself as a trailblazer in blockchain and artificial intelligence integration. Both tokens represent vastly different approaches: SHIB thrives on community engagement and cultural momentum…

The cryptocurrency market has seen its fair share of attention-grabbing stories, with Shiba Inu (SHIB) capturing the hearts of meme-coin enthusiasts and Lightchain AI (LCAI) positioning itself as a trailblazer in blockchain and artificial intelligence integration. Both tokens represent vastly different approaches: SHIB thrives on community engagement and cultural momentum…
Read More

Continue Reading
Crypto Currency

FOMO Could Catapult Bitcoin to $150K by Mid-2025 — BTC to Become a ‘Must-Have’ Asset

Bitcoin is forecast to soar to $150,000 by mid-2025, as surging FOMO and institutional investment drive ultra-bullish momentum in the cryptocurrency market. Bitcoin Could Hit $150K by Mid-2025 as FOMO Sends Markets Into Overdrive Nigel Green, CEO of financial advisory firm Devere Group, has predicted that bitcoin could climb to a new high of $150,000

Bitcoin is forecast to soar to $150,000 by mid-2025, as surging FOMO and institutional investment drive ultra-bullish momentum in the cryptocurrency market. Bitcoin Could Hit $150K by Mid-2025 as FOMO Sends Markets Into Overdrive Nigel Green, CEO of financial advisory firm Devere Group, has predicted that bitcoin could climb to a new high of $150,000 [……
Read More

Continue Reading
Crypto Currency

Could Avalanche’s DeFi Dominance Be Challenged by This Presale Crypto?

Avalanche might be leading the DeFi race, but a newcomer is eyeing the throne. Meet 1FUEL, the best cryptocurrency to invest in if you’re ready to bet on a hidden gem in digital finance. While Avalanche dazzles with speed and scalability, 1FUEL is making privacy, simplicity…

Avalanche might be leading the DeFi race, but a newcomer is eyeing the throne. Meet 1FUEL, the best cryptocurrency to invest in if you’re ready to bet on a hidden gem in digital finance. While Avalanche dazzles with speed and scalability, 1FUEL is making privacy, simplicity…
Read More

Continue Reading