Ripple loses its spot in market cap top to Cardano
Thanks to the explosive Cardano growth by almost 30% on May 31, the ADA token beats Ripple’s XRP in CoinMarketCap’s market capitalization at the top. Although Cardano has 14 billion fewer coins in circulation, ADA breaks out at no. 6, with Ripple falling to no. 7. Cardano currently has a market capitalization of $22.57 billion compared to $20.19 billion for Ripple.
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 projects such as Solana, Polkadot, Tron and the rest of the popular competitors behind them. Nevertheless, looking at the companies that dominate the market capitalization, it seems that there is very little chance for Cardano and Ripple to reach the clear 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 the plans of Cardano and Ripple, and will they be able to not only maintain their current positions, but also go higher?