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Cardano has reentered the top 10 cryptocurrencies by market capitalization after a brief exit in the past day.
As reported, Cardano momentarily dropped out of the top 10 cryptocurrencies by market capitalization, having held 10th place in recent months. Hyperliquid (HYPE) had entered the top 10 cryptos after a 20% daily surge pushed its market capitalization above Cardano, flipping it to 11th place.
However, a shift is seen at press time, with Cardano reclaiming its spot as the 10th largest cryptocurrency, with a current market capitalization of $10.48 billion.
Amid the push, Cardano trading volumes have increased 55% to $828.69 million, according to CoinMarketCap data.
Cardano price action
Cardano, just like most crypto assets on the market, is trading in red, down 2.36% in the last 24 hours to $0.29 and down 19% weekly.
The sell-off in the last 24 hours has seen $753.4 million in liquidations across the crypto market, coinciding with a decline in equities. The S&P 500 on Tuesday retreated from near records on a tech sell-off, while gold and silver rebounded.
Crypto losses increased this week as investors have also continued to rotate out of risk-on assets, causing significant declines for major cryptocurrencies, especially on a weekly basis.
Cardano entered into sideways trading following a five-day drop from Jan. 28 to Feb. 1. Cardano is currently trading in a range between $0.275 and $0.305 as prices stagnate on the market.
Indicators such as the daily RSI are approaching oversold levels, near 30, indicating the possibility of a relief rally if prices rebound.
Cardano ended January down 11.87% to mark its fifth consecutive month of drop since August 2025.
The next barrier for the Cardano price lies at $0.34, ahead of $0.364, which coincides with the daily MA 50 in the event of a market rebound ahead of $0.50. Support is expected in the $0.25 to $0.26 range if selling continues.
Tomiwabold Olajide
Denys Serhiichuk
Godfrey Benjamin
Gamza Khanzadaev