Depending how you value them, we weren't too far apart from the market valuation of Ripple a few months ago.
They've made better value adding decisions and partnerships for their model during that period. Congrats to them. We could have been in a similar place with no dilution & $1 million thrown at BitAsset integration, lightweight clients, partnerships & offramps instead of Vote too.
It's happening now though, regained focus, building up again post merger, we're just a few months behind, but things can move quickly once we regain momentum. They may be in our rear view mirror soon enough.