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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.
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?
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin