The total market cap of all ethereum based tokens now stands at $3,079,547,585, according to data we’ve compiled based on ethereum assets listings on CoinMarketCap.
60 tokens have launched through the ethereum network, most likely corresponding to 60 new projects, with most of them at the start-up stage.
The top ten account for around 67% of the total market cap at just above $2 billion, while the next ten account for half a billion, giving the top 20 the lion’s share of $2.6 billion.
43 assets are worth above $10 million, while all in the top 30 are worth above $20 million, with the data showing a long-tail of sorts as can be seen in the featured image above and in the bar chart below.
It’s not clear whether their combined market cap has ever been higher as although ethereum’s price has recently been falling, a number of blockbuster tokens, such as EOS and Status, have recently been added.
As it stands, their market cap is around half that of bitcoin during summer 2016 and three times the market cap of ethereum at the beginning of the year.
It has risen from a combined tokens’ market cap of $1 billion in May, so tripling in two months, with just six projects raising around $650 million last month.
Many smaller projects raised around $50 million, with many more joining them since then as ethereum now creates its own dynamic system revolving around its platform.
The new business model might even disrupt Silicon Valley, according to Fred Wilson from Union Square Venture Capital, because innovative projects can raise funds directly without requiring VCs.
It has developed into one of the main uses of ethereum, with token based transactions on the rise, while ethereum’s transaction levels currently stand around 40,000 above bitcoin’s.
That’s led many to speculate ethereum’s market cap will eventually overtake bitcoin’s due to its wider functionalities and utility, including that of the booming ICO sector which has brought much attention to the platform.