Cardano Kicked Out Of Top 10 Crypto By Market Cap, What’s Going On?
2024年8月21日 - 8:00AM
NEWSBTC
In an unexpected twist of events, Cardano (ADA) has officially been
ousted from the top 10 cryptocurrencies by market capitalization.
The popular altcoin has also been usurped by Tron (TRX), marking a
significant shift in the crypto market. Cardano’s Fall From
Grace According to reports from CoinMarketCap, Cardano has
dropped out of the top 10 largest cryptocurrencies by market
capitalization. The popular altcoin lost its long-standing position
following significant price declines over the past week, which
reduced its market capitalization to around $12.3 billion. Bill
Morgan, a popular crypto enthusiast and analyst has also commented
on the cryptocurrency’s recent fall from grace. Related Reading:
Cardano Down 50% In 4 Months: Sellers Unrelenting, Best Time To Buy
ADA? Cardano, once ranked top three amongst all cryptocurrencies
during the bull run in 2021 has been experiencing drastic price
declines due to widespread market correction. Over the past few
months, Cardano’s price has consolidated around the $0.3 mark,
witnessing only slight upticks during stable market
conditions. Generally, Cardano’s price fundamentals have been
somewhat weak, dropping by a whopping 58.6% from its March 2024
price high. Atomic Wallet analysts have also noted that ADA has
been on a major downward trend, plummeting by over 90% since around
September 2021. The analysts also suggest that ADA’s downward
spiral began following the launch of its smart
contracts. Responding to Atomic Wallet analysts, Dave,
a Cardano development and DEX enthusiast, has highlighted that the
altcoin is significantly undervalued. Despite the ongoing
developments in its network and the upcoming Chang hard fork,
Cardano continues to experience price and adoption
stagnation. Although the cryptocurrency’s drop
from the top 10 cryptocurrencies may be disheartening for many in
its community, various members still remain optimistic about the
cryptocurrency’s future outlook. One Cardano supporter pointed out
that the cryptocurrency had previously fallen as low as 17th in
market capitalization on March 27, 2020. Yet, within a year, it
rebounded dramatically to the top four during the bull cycle in
2021, demonstrating its potential for recovery and
growth. Tron Replaces Cardano In Top 10
Additionally, crypto analyst, KingCryptoAryan on X has shared a
rather ambitious forecast for Cardano, expecting the cryptocurrency
to surge as high as $75 soon. At the time of writing, the price of
Cardano is trading at $0.34, recording a slight 3.10% increase in
the past 24 hours, according to CoinMarketCap. Related Reading:
Cardano Analyst: ADA To 2X After Breakout, Chang Hard Fork As
Tailwinds? Cardano’s fall from the top 10 cryptocurrencies has
effectively pushed the rankings of Tron (TRX) upwards. Presently,
Tron has replaced Cardano to become the top 10 largest
cryptocurrencies by market capitalization. Tron’s market
capitalization is now estimated at approximately $12.7 billion,
exceeding Cardano’s by about $400 million. At the time of writing,
TRX is trading at $0.146, marking a 6.84% increase in the last 24
hours, according to CoinMarketCap. Featured image from Adobe Stock,
chart from Tradingview.com
Cardano (COIN:ADAUSD)
過去 株価チャート
から 8 2024 まで 9 2024
Cardano (COIN:ADAUSD)
過去 株価チャート
から 9 2023 まで 9 2024