Greed

Cardano

Bitcoin

Toncoin

when

According to CoinMarketCap, Cardano has fallen out of the top 10 cryptocurrencies by market capitalization after dropping approximately 3% over the last seven days.
Cardano (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ada-price-index" rel="noopener noreferrer nofollow" target="null" text="null">ADA</a>), once ranked third in crypto rankings during the 2021 bull cycle, is currently 11th after Tron (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tron-price-index" rel="noopener noreferrer nofollow" target="null" text="null">TRX</a>). Tron currently has a market cap of $12.04 billion, while Cardano’s market cap sits at $11.89 billion.
This is not the first time Cardano has dropped out of the top 10. In May, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/memecoin-mania-cardano-out-top-10" rel="noopener noreferrer nofollow" target="null" text="null">Toncoin flipped ADA</a> after TON jumped 30% in two weeks.
<figure><img alt="Cardano (ADA) loses top 10 crypto spot as Tron sees growth" name="" src="https://s3.cointelegraph.com/uploads/2024-08/Screenshot%202024-08-19%20at%2016.36.44%20Medium">
 <figcaption style="text-align: center;">
 Performance of top 10 cryptocurrencies by market capitalization. Source: CoinMarketCap
 </figcaption>
</figure>
This comes amid a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/why-is-the-crypto-market-down-today#:~:text=Today%2C%20the%20cryptocurrency%20market's%20losses,over%20%241%20billion%20in%20liquidations." rel="noopener noreferrer nofollow" target="null" text="null">marketwide correction</a> that has seen most cryptocurrencies drop below key support levels. Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null">BTC</a>), the largest crypto by market capitalization, led the drop by losing 11% and 2.5% over the last 30 days and 24 hours.
The drop in ADA’s position can be attributed to current market dynamics, which are fueled by various factors, including market trends, investor sentiment, and overall market conditions.&nbsp;
According to data from Alternative.me, the Crypto Fear &amp; Greed Index remains in the “Fear” zone at 28. Although this is a slight increase from the “Extreme Fear” experienced last week, it suggests that investors are still in a risk-off mode.
<figure><img alt="Cardano (ADA) loses top 10 crypto spot as Tron sees growth" name="" src="https://s3.cointelegraph.com/uploads/2024-08/Screenshot%202024-08-19%20at%2017.24.24">
 <figcaption style="text-align: center;">
 Crypto Fear &amp; Greed Index. Source: Alternative.me
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/tron-network-leads-in-stablecoin-market-share-amid-growing-monthly-transfer-volume" rel="noopener noreferrer nofollow" target="null" text="null">Tron network leads in stablecoin market share amid growing monthly transfer volume</a>
The Cardano Blockchain has been referred to as a “ghost network” with only 23,807 active addresses compared to Ethereum’s 350,000 and Tron’s 1.9 million, per data from DefiLlama. The total value locked on the network is $178.07 million, making up less than 1% of the DeFi market share and ranking at 29, as <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/what-is-ethereum-a-beginners-guide-to-eth-cryptocurrency#:~:text=Ethereum%20is%20a%20decentralized%20blockchain,media%20and%20so%20much%20more." rel="noopener noreferrer nofollow" target="null" text="null">Ethereum</a>, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/what-is-solana-and-how-does-it-work" rel="noopener noreferrer nofollow" target="null" text="null">Solana</a> and Tron take the top three spots.
<figure><img alt="Cardano (ADA) loses top 10 crypto spot as Tron sees growth" name="" src="https://s3.cointelegraph.com/uploads/2024-08/Screenshot%202024-08-19%20at%2017.53.35%20Medium">
 <figcaption style="text-align: center;">
 Top chains ranked by total value locked. Source: DefiLlama
 </figcaption>
</figure>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Cardano (ADA) loses top 10 crypto spot as Tron sees growth

Cointelegraph

Other articles published on Aug 19, 2024

Tether Announced Launch Of USDT On Aptos: What It Means For The Future Of Blockchain Utility

Solana (SOL) Short-Term Price Warning Flashed by This Indicator: Details

Marathon Digital to Raise $250 Million to Boost Bitcoin Holdings

Crypto: AVAX Shows Bullish Signs Despite Selling Pressure!

HashKey and Catizen Join Forces to Advance Blockchain and GameFi Innovation

Italian Bank Banca Sella Launches Bitcoin Trading as Crypto Interest Surges

Join our free newsletter for daily crypto updates!