Cardano surpasses Coinbase, Roblox in market cap, trails Vodafone by $0.9 billion
The impact of Cardano’s growth is now reflecting on the platform’s market capitalization that holds the potential for further growth. The market cap has now either surpassed or matched up to some notable traditional publicly traded companies.
Data acquired by Finbold indicates that ADA’s market capitalization of $50.42 billion as of June 15th, 2021, is higher than Coinbase’s $49.43 billion. Elsewhere, the online gaming platform Roblox also has a lesser market cap of $49.05 billion. The ADA market cap slightly trails telecommunications giant Vodafone by $0.94 billion among the 11 publicly traded assets.
Veterinary services company IDEXX Laboratories also trails ADA recording a market cap of $50.18 billion, followed by Dutch-based Koninklijke Philips with a market cap of $50.02 billion, while Dow Inc has a market cap of $50.01 billion.
Other assets trailing ADA in market cap include EOG Resources ($49.95 billion), KLA Corporation ($49.43 billion), Monster Beverage Corporation ($49.05 billion), and Keurig Dr Pepper ($48.99 billion).
Significance of Cardano’s growth
The report explores how ADA has managed to stand out among publicly traded companies. According to the research report:
“It is worth mentioning that ADA and the selected assets are from different backgrounds. Besides Coinbase, ADA is a relatively new asset. However, the market cap figure highlights the cryptocurrency’s tremendous journey since launching.”
Cardano’s market capitalization milestones come in the wake of the asset witnessing an increase in popularity, recording an influx of capital and wide-scale blockchain adoption. From the start of the year, ADA’s value has surged by at least 750%.
Furthermore, the Cardano network is building the foundation of boosting investor confidence with constant developments meant to better the blockchain.
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