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06/14/2022

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Cardano & Ripple Lose Their Positions in Market Cap Top: CoinMarketCap

The post Cardano & Ripple Lose Their Positions in Market Cap Top: CoinMarketCap appeared on BitcoinEthereumNews.com. Gamza Khanzadaev Cardano is pulling away from Ripple in Market Cap Top, but both are losing their positions Disclaimer: The opinion expressed here...

Cardano & Ripple Lose Their Positions in Market Cap Top: CoinMarketCap

Gamza Khanzadaev

Cardano is pulling away from Ripple in Market Cap Top, but both are losing their positions

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Monday’s session on the crypto market could be compared to a real bloodbath. Some of the projects managed to survive the day only slightly tarnished, while most of them filled this bath. Yet, it is interesting to assess the consequences of this not black, but definitely dark gray, Monday for Cardano and Ripple, which lost their 6th and 7th places in the top projects by market capitalization from CoinMarketCap and dropped to places 7th and 8th, respectively.

Both ADA and XRP, which can be considered direct competitors for the top spot and contingent rivals in their operations, lost 15% of their values over the day, with Cardano’s capitalization down $3.2 billion and Ripple losing $2.6 billion.

Cardano Market Cap, source: CoinMarketCap
Ripple Market Cap, source: CoinMarketCap

Utility or profit?

Is this assessment fair for one of the largest and favorite projects of the crypto community? Is Ripple underpriced? The answers remain open. The important thing now is that there are few triggers to change the position, and even those that are there do not seem to provide the necessary impetus for both Cardano and Ripple to grow.

Perhaps Edward Snowden was right and it is better to use crypto and its services rather than to invest in it?

Source: https://u.today/cardano-ripple-lose-their-positions-in-market-cap-top-coinmarketcap

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