BCGAME - Free 5BTC Daily Bonus!- Cardano reclaims top 10, overtakes Toncoin.
- USDM gains approval, strengthens Cardano’s position.
After a period of challenges and overcoming, the cryptocurrency Cardano (ADA) re-emerges in the crypto rankings in 2024, retaking its place among the ten largest projects in market capitalization. With a history of ups and downs, Cardano had already reached a peak of US$ 91 billion in capitalization, ranking behind only Bitcoin and Ethereum. However, new projects, such as Toncoin, had displaced Cardano to lower positions in the ranking.
At the time of publication, the price of ADA was quoted at $0,3914, up almost 10% in the last 24 hours.
In April, the introduction of a revamped incentive model catapulted Toncoin, displacing Cardano to the tenth position. This descent continued until August, when TRON, in a stunning move, pushed Cardano to the eleventh place. The result was a wave of uncertainty among ADA investors, questioning the reasons for the drop.
However, Donald Trump’s re-election seemed to reverse the tide. The US president’s victory triggered a wave of optimism that boosted several cryptocurrencies, including Cardano, which returned to the top 10, displacing Toncoin to the 4,6th position. Over the past week, Cardano saw its valuation increase by 13,2% to $XNUMX billion, while TON remained almost flat.
TRON’s 5,5% drop in valuation over the past week has reduced its value to $13,9 billion, highlighting the market’s volatility and ongoing competition among projects. On the other hand, catching up to Dogecoin, which is ranked eighth, remains a considerable challenge for Cardano.
In addition to market movements, the Cardano Summit, which ran until October 24, brought to light important advances that solidify Cardano's commitment to sustainable development, far from mere hype. Highlights of the event included the announcement of LCX, which intends to expand its support for Cardano tokens, and the unveiling of the BitcoinOS bridge, which promises trustless integration with Cardano smart contracts.
Finally, the USDM stablecoin, which recently became the second approved under the European Union’s new MiCA regulation, demonstrates the strengthening of Cardano’s financial infrastructure through strategic collaborations, such as the one with the Norwegian Block Exchange.
