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Cardano Beats Ripple by Market Cap: CoinMarketCap

Tue, 05/31/2022 - 10:12
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Gamza Khanzadaev
Ripple loses its spot in market cap top to Cardano
Cardano Beats Ripple by Market Cap: CoinMarketCap
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Thanks to Cardano's explosive growth of nearly 30% on May 31, the ADA token beats Ripple's XRP in CoinMarketCap's market capitalization top. Despite Cardano having 14 billion fewer coins in circulation, ADA breaks out at no. 6, with Ripple dropping to no. 7. Cardano currently has a market capitalization of $22.57 billion versus Ripple's $20.19 billion.

Source: CoinMarketCap

What's next for these crowd favorites?

Despite such a tight fight for their place in the sun, both projects are very similar to each other. Both Ripple and Cardano are community driven, but at the same time both have been under enormous pressure due to price perturbations for several years. Both have tremendous ambitions and put a lot of effort into establishing useful partnerships and even more into project development.

At the moment, Cardano and Ripple have already overtaken such projects as Solana, Polkadot, Tron and the rest of the popular competitors behind them. Nevertheless, looking at the companies that lead the market cap top, it seems that there is very little chance for Cardano and Ripple to reach the undisputed leaders.

In fifth place of the reviewed top confidently sits BNB with a capitalization of $52.1 billion and an astounding scope of activity, inflated by the authoritative CEO of Binance, CZ. The capitalization of BNB is two times higher than the capitalization of Ripple and Cardano, and if we compare them with ETH and BTC, the gap is 10 times bigger.

The question arises: How ambitious are Cardano and Ripple's plans, and will they be able to hold onto not only their current positions, but to move higher?

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.