McDonald’s Doesn’t Just Flip Burgers — It Has Now Flipped Ethereum In Market Valuation
By Benzinga
McDonald’s Corp (NYSE:MCD) has flipped Ethereum (CRYPTO: ETH) in terms of market capitalization, a fact that drew amusement from Binance CEO Changpeng Zhao.
What Happened: McDonald's market cap was at $203.36 billion as of Monday’s close, according to Benzinga Pro data. Ethereum's market cap was worth $180.28 billion.
Zhao said on Twitter regarding the development, "Doubts creep in once in a while, stay strong, stay SAFU." SAFU refers to a Binance initiative called Secure Asset Fund for Users that takes a portion of trading fees and accumulates it in a fund that will be used to compensate users if the need arises.
Zhao's tweet comes at a time when Sam Bankman-Fried-led FTX cryptocurrency exchange faces a bout of fear, uncertainty, and doubt.
See Also: Four Best Binance Alternatives
Why It Matters: On Tuesday, a cryptocurrency crash precipitated by large liquidations amid the FTX scare caused Ethereum to fall 5.5% to $1,486.23.
Ethereum's market cap dropped 5.81% to $181.96 billion in a span of just 24 hours.
Ethereum 24-Hour Market Cap — Courtesy CoinMarketCap
McDonald's meanwhile has been seeing a consistent rise in its worth. Its market cap has risen from $171.56 billion on Oct. 7 to $203.42 billion at the time of writing.
Getting a job at McDonald's is a long-standing joke among the cryptocurrency community, which is often shared on social media during downturns in the market.
Photo: courtesy of Shutterstock
