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TRON could Surpasses Toncoin as Top 10 Crypto Rankings
#TRON #TONCOIN #Altcoins
Toncoin (TON) is on the verge of falling out of the top 10 crypto assets as TRON (TRX) experiences significant growth. According to CoinMarketCap, TON's market cap has dipped below $13 billion in the past three days, while TRON's has surged to over $14 billion.
Impact of Pavel Durov's Arrest on Toncoin
The recent drop in Toncoin's market cap is partly due to a price correction following the arrest of Pavel Durov, Telegram’s co-founder and CEO. Over the last 30 days, Toncoin's price has fallen by 18%, reaching a low of $5.11 on Tuesday. A network outage also contributed to the bearish momentum.
TRON’s Surge and the Rise of SunPump
In contrast, TRON has seen a 16% price increase during the same period, fueled by the launch of SunPump, a new meme coin token generator created by TRON’s founder, Justin Sun. SunPump has quickly gained traction, surpassing Solana’s Pump.fun in daily revenue. Last Wednesday, SunPump generated $567,000 from 7,531 launched memecoins, compared to Pump.fun’s $368,000 from 6,941 tokens.
Investor Caution in Toncoin
Data from IntoTheBlock shows a decline in Large Holders Inflow for Toncoin, which tracks wallets holding over 1% of the circulating supply. This suggests a cautious approach from major investors, potentially signaling further declines.
As of August 28, Toncoin ranks 10th with a market cap of $13.5 billion, just ahead of Cardano at around $13 billion. TRON recently surpassed Cardano, knocking it out of the top 10.
