Cardano Loses Top 10 Spot to Tron
In a surprising turn of events, Cardano (ADA) has been knocked out of the top 10 cryptocurrencies by market capitalization, a position it held for quite some time. Tron (TRX) has taken its place, marking a significant shift in the crypto landscape.
The Decline of Cardano
Recent reports from CoinMarketCap reveal that Cardano has slipped out of the top 10 largest cryptocurrencies by market capitalization. The altcoin’s fall from grace can be attributed to significant price drops over the past week, which have seen its market capitalization drop to around $12.3 billion. This decline has caught the attention of crypto enthusiasts and analysts alike.
– Once a top three cryptocurrency in the bull run of this year
– Suffering drastic price declines due to market corrections
– Price hovering around $0.3 with minimal increases
– Fundamentals weakened, dropping over 58% from March 2024 high
– Downward trend of over 90% since September 2021
– Plunge linked to launch of smart contracts
Tron Surpasses Cardano in Rankings
As Cardano slides down the rankings, Tron has stepped up to take its place in the top 10 largest cryptocurrencies by market capitalization. Tron’s market capitalization now stands at around $12.7 billion, surpassing that of Cardano by approximately $400 million. This shift highlights Tron’s increasing prominence in the crypto market.
– Tron’s market cap surpasses Cardano’s by $400 million
– Trading at $0.146 with a 6.84% increase in the last 24 hours
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