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According to data from CoinMarketCap, Cardano (ADA) has officially dropped out of the top 10 cryptocurrencies by market capitalization after a roughly 3% decline over the past seven days. Once ranked third in cryptocurrency rankings during the 2021 bull cycle, Cardano has now fallen to 11th place, trailing behind Tron (TRX). Tron currently has a market cap of $12.7 billion, while Cardano’s market cap stands at $12.3 billion.
This is not the first time Cardano has fallen out of the top 10. In May, ADA was overtaken by Toncoin when TON surged by 30% in just two weeks.
Cardano’s drop in rankings comes amid a broader correction in the cryptocurrency market, with most coins falling below key support levels.
Cardano has also been referred to as a “ghost network” due to having only 23,807 active addresses compared to Ethereum’s 350,000 and Tron’s 1.9 million, according to data from DefiLlama. The total value locked (TVL) on the Cardano network is $178.07 million, accounting for less than 1% of the DeFi market share and ranking 29th, while Ethereum, Solana, and Tron hold the top three positions.
In addition to Tron’s superior network activity compared to ADA, the recent increase in TRX’s value can also be attributed to Tron CEO Justin Sun, who has been actively promoting memecoins on the network. This has led to several memecoins reaching market caps of tens of millions of dollars, further boosting the value of TRX.
Related: Justin Sun Offers to Buy German Government’s Bitcoin
Looking at the present situation of this project, listing will never happen as the money they are accumulate from the community through ads and other sources will stop if it has been listed, of which the owner of the project wouldn’t want at all
Let’s assume $10 will be distributed to 155 million users, a whooping sum of 1.5 billion dollars, will be disbursed to it’s users, do you think they will be willing to give that out?
Anyways, I pray they settle within themselves
Let us gloom with what is invogue now which is cryptocurrency because world won’t be use cash or tender for transportation but crypto. So glue to it now before it will be too late