Cardano (ADA) has finally relinquished its 10th position among the top cryptocurrencies, slipping to 11th place. Pro-XRP attorney Bill Morgan brought attention to this shift on X today, as market data confirms that Tron (TRX) has overtaken ADA to become the 10th largest crypto by market cap.
The shift comes amid Tron’s steady growth over the past week. Despite a subdued market, Tron saw a nearly 10% increase in value. In contrast, ADA’s price dipped by 2.3% today, while Tron surged by 3.5%. Tron’s market cap now stands at over $12 billion, edging out ADA’s $11.89 billion.
A deeper look reveals significant trading volume differences. Over the past 30 days, Tron registered $12 billion in trading volume—more than twice ADA’s. This activity highlights stronger market interest in TRX, which likely fueled its climb up the ranks.
Cardano’s Struggle to Hold On
Cardano started 2024 as the eighth-largest crypto with a market cap of over $17 billion, trading around $0.50. Back then, Tron was in 11th place with a valuation of $9 billion. ADA’s position remained secure until April when bears took control, coinciding with a surge from Toncoin (TON).
By early May, TON had pushed ADA out of 9th place, marking the beginning of ADA’s decline. Despite hitting a yearly low of $0.27—a 65% drop from its yearly high—Cardano managed to defend its 10th position until now.
Cardano’s failure to reclaim momentum comes as its blockchain nears the significant Chang upgrade. Market optimism hasn’t translated into price action, leading to skepticism among analysts.
Cardano’s fall didn’t surprise all. Bitcoin pundit Eric Wall had forecasted ADA’s drop out of the top 10, a prediction that finally materialized. Meanwhile, Cardano founder Charles Hoskinson remains optimistic, suggesting that ADA could one day surpass Bitcoin in market share.
Tron’s rise is a reminder that in crypto, sustained performance often outpaces speculative hype. The question remains, can Cardano bounce back, or is this the start of a longer decline?
