Cardano (ADA) Might Flip TRX and DOGE If This Happens
Release: 2024/08/22 20:29 Reading: 294
Cardano (ADA) Challenges Tron (TRX) for Top 10 Cryptocurrency Spot
The digital asset landscape continues to witness intense competition for positions among the industry's top 10 cryptocurrencies. Cardano (ADA), previously occupying the 10th spot, was briefly overtaken by Tron (TRX). This shift was driven by TRX's success in launching its meme coin platform, SunPump.
Cardano's Brief Return to the Top 10
However, as reported earlier by U.Today, Cardano regained its 10th position from TRX momentarily within the last 24 hours. This followed a surge of 5% for ADA, which surpassed TRX in market capitalization. TRX had previously made a strong surge in the preceding week, climbing to the 10th spot.
Sustained Flip Possible, Analysts Optimistic
While ADA has since dropped back to 11th place, analysts remain confident in its potential to reclaim its position. Data indicates that ADA's price has risen by 4.82% to $0.3686 in the past 24 hours, supported by a market capitalization of $13,253,217,043.
Market Predictions and Potential Game-Changer
Analysts anticipate that if ADA's price continues to rise, it could surpass TRX in a short timeframe. TRX's market cap has experienced a decline of 5.04% after a dip in price to $0.1562. At the time of writing, TRX's market cap stood at $13,505,736,584.
The upcoming launch of Cardano's highly anticipated Chang hard fork could prove pivotal. Scheduled for August 27th, this upgrade will incorporate the latest version of its validator node, Node 9.1, into the Cardano network.
Dogecoin's Position and Cardano's Path Forward
Dogecoin (DOGE) remains in 9th place, with a 1.72% price increase to $0.1059 and a market cap of $15.44 billion. For Cardano to challenge DOGE's position, analysts predict that its price must maintain its bullish momentum.
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