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Ethereum down 57% from its all-time high, but it's still worth more than Toyota

Despite trading at about half its all-time high, Ethereum's market capitalization of around $252 billion exceeds those of major global corporations like Toyota and Disney.
The article from Cointelegraph discusses Ethereum's market performance, noting that despite a significant 57% drop in its value, Ethereum's market capitalization still surpasses that of Toyota, one of the world's largest automotive companies. Ethereum's market cap was reported at $146.6 billion, while Toyota's was $145.2 billion. This comparison highlights the substantial valuation of cryptocurrencies even during market downturns. The piece also touches on the broader crypto market's volatility, with Bitcoin experiencing a similar decline, and mentions the ongoing debate about the intrinsic value of cryptocurrencies versus traditional stocks. Furthermore, it points out that despite the downturn, Ethereum's ecosystem continues to grow with developments like Ethereum 2.0, which aims to improve scalability and security through a shift to proof-of-stake.

Read the Full Cointelegraph Article at:
[ https://cointelegraph.com/news/ethereum-is-down-57-but-is-still-worth-more-than-toyota ]