If ethereums competitors didn’t exist that money would flow perhaps to ethereum and other things but let’s say it went to eth. So a short six years ago bitcoin was the price ethereum is today.

Ethereum, with a circulating supply of approximately 120.49 million ETH, has a market capitalization of around $392.88 billion, resulting in a price per ETH of about $3,260.64. 

Considering its major competitors:

•Solana (SOL): Market cap of approximately $90.94 billion with a circulating supply of about 484.20 million SOL, leading to a price per SOL of around $187.85. 

•Cardano (ADA): Market cap of approximately $36.50 billion with a circulating supply of about 35.89 billion ADA, resulting in a price per ADA of around $1.02. 

•Polkadot (DOT): Market cap of approximately $10.29 billion with a circulating supply of about 1.52 billion DOT, leading to a price per DOT of around $6.76. 

•Avalanche (AVAX): Market cap of approximately $15.25 billion with a circulating supply of about 410.63 million AVAX, resulting in a price per AVAX of around $37.13. 

•Algorand (ALGO): Market cap of approximately $3.14 billion with a circulating supply of about 8.38 billion ALGO, leading to a price per ALGO of around $0.37. 

•Tezos (XTZ): Market cap of approximately $1.32 billion with a circulating supply of about 1.02 billion XTZ, resulting in a price per XTZ of around $1.29. 

•TRON (TRX): Market cap of approximately $20.72 billion with a circulating supply of about 86.17 billion TRX, leading to a price per TRX of around $0.24. 

•NEO (NEO): Market cap of approximately $1.55 billion with a circulating supply of about 70.53 million NEO, resulting in a price per NEO of around $21.99. 

•BNB (BNB): Market cap of approximately $99.72 billion with a circulating supply of about 144.01 million BNB, leading to a price per BNB of around $692.55. 

•EOS (EOS): Market cap of approximately $1.23 billion with a circulating supply of about 1.52 billion EOS, resulting in a price per EOS of around $0.81. 

Summing the market capitalizations of these competitors:
•Solana: $90.94 billion
•Cardano: $36.50 billion
•Polkadot: $10.29 billion
•Avalanche: $15.25 billion
•Algorand: $3.14 billion
•Tezos: $1.32 billion
•TRON: $20.72 billion
•NEO: $1.55 billion
•BNB: $99.72 billion
•EOS: $1.23 billion

Totaling approximately $280.66 billion.

Adding Ethereum’s market cap of $392.88 billion results in a combined market cap of about $673.54 billion.

Dividing this by Ethereum’s circulating supply of 120.49 million ETH gives an average value of approximately $5,592.99 per ETH.

This calculation provides a theoretical average value per ETH if Ethereum’s circulating supply were to represent the combined market capitalization of itself and its competitors.

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