Ethereum is currently the second largest cryptocurrency by market capitalization, right behind Bitcoin. Market capitalization is a measure of the total value of all the coins in circulation, and it is calculated by multiplying the total number of coins by the current market price. Ethereum’s market capitalization is calculated by multiplying the total number of ETH coins in circulation by the current market price of each coin.

Ethereum has been consistently ranked as the second largest cryptocurrency by market capitalization since 2017, and it has a large and active community of developers, users and investors. Ethereum has also been instrumental in the development of decentralized finance (DeFi) and non-fungible tokens (NFTs) which has attracted significant interest from investors and traders.

It’s worth noting that the cryptocurrency market is highly dynamic and the ranking of different coins can fluctuate frequently based on market conditions, news, and other factors.