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Cardano (ADA) Makes Epic Top 10 Comeback, Leaving SHIB and TON in Dust

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Wed, 29/05/2024 - 15:30
Cardano (ADA) Makes Epic Top 10 Comeback, Leaving SHIB and TON in Dust
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The popular cryptocurrency Cardano (ADA) has reentered the top 10 crypto assets by market capitalization in what may be considered a story of stability and anomaly. 

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Thus, according to data from CoinMarketCap, Cardano, with a capitalization of $16.44 billion, took ninth place in the top ten, followed by Shiba Inu (SHIB), with a capitalization of $16.13 billion, in tenth place, and then Toncoin (TON), with an estimated market capitalization of $15.65 billion.

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It is noteworthy that a few hours earlier, Cardano token had relinquished its position in the top 10, when Shiba Inu (SHIB) overtook ADA amid a surge in cryptocurrency meme prices and a decline in the price of Cardano token.

Meanwhile, TON was already ranked in the top 10 when its market capitalization was reduced from $22.65 billion to $15.66 billion, with no fluctuation in price. The reason for the adjustment of TON's figure is unclear. 

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Toncoin (TON) Market Cap by CoinMarketCap

However, it is evident that this had a positive impact on Cardano. In contrast, the situation with SHIB is more straightforward. Here, the price of the Shiba Inu token experienced a decline, resulting in a drop in its ranking. 

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It is curious to note that, despite the apparent lack of interest in the ADA token and the assertion that it is an unnecessary "ghost chain," the Cardano token continues to occupy a position of prominence within the cryptocurrency landscape. 

Its resilience, even at current price levels, is sufficient to place it as the ninth largest cryptocurrency on the market, with an estimated capitalization of several trillion dollars.

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