Cardano (ADA) Reclaims Top 10 Spot From Tron (TRX)
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The powerplay between Cardano and Tron has taken a new twist, with the former overtaking the latter in the rankings. The past few weeks saw both cryptocurrencies topple each other as the 10th largest digital currency. While laying claims on this milestone depends on individual altcoin performance, ADA is currently winning.
ADA and TRX outlook
At the time of writing, Cardano was trading for $0.3829, up 4.76% in 24 hours. In contrast, Tron sold for $0.1548, with the price surge slightly below ADA's. While ADA now boasts a market cap of $13.75 billion, TRX has just $13.43 billion to lose from the top 10.
Mushumir ButtTo general market observers, Cardano is the more established digital currency based on market valuation. However, 10th place is very competitive with different assets, including Shiba Inu (SHIB) once making a play for it.
Despite the instability associated with this 10th place, thus far this year, Cardano has maintained the longest ranking. Momentarily, the ecosystem hype of key rivals like Tron is often high, thus aggressively boosting demand for native assets. This was the case for TRX over the past few weeks, with the SunPump platform driving intense liquidity through meme coins.
The hype has returned in Cardano’s favor, with ADA skyrocketing by 14.5% in the trailing seven-day period.
Is Dogecoin next?
With Cardano outshining Tron, it is expected to continue beyond this newfound growth momentum by outranking DOGE.
Alex DovbnyaThere are reasonable ecosystem advancements to power this next growth push. The Cardano Chang hard fork upgrade is still expected this month, according to updates from Charles Hoskinson, the protocol’s founder.
The market dynamics are poised to change significantly over the next few weeks. While Cardano appears to be hot, there is no guarantee it will not eventually fall from its present level.
Arman Shirinyan
Alex Dovbnya