Cardano and XRP Beat Coinbase's Whole Market Capitalization Following Earnings Report

📆 11/5/2022 9:05 PM
📰 Utoday_en

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$ADA and $XRP are beating Coinbase in market capitalization following company's net loss in Q1, 2022

According to CoinMarketCap,

total market capitalization is now sitting at approximately $20.8 billion as Coinbase's capitalization is now at $19 billion, while being close to almost $40 billion only a one week ago.Cardano is not the only cryptocurrency that is beating one of the biggest cryptocurrency trading platforms in the world, as XRP's $24 billion market capitalization also ‌exceeds Coinbase.

According to the company's letter to investors, the first quarter of the new year inherited the trend of low cryptocurrency prices and high volatility directly from 2021. Because of increased risks on the market and worsening market conditions, more users had to leave the space for better times, which impacted the company's performance in Q1.

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