[The rise in TRON’s market value may push Toncoin out of the top ten]
Toncoin (TON) is at risk of being pushed out of the top ten crypto assets due to the strong growth of TRON (TRX). Over the past three days, TON’s market capitalization has fallen below $13 billion, while TRON’s market capitalization has exceeded $14 billion, according to CoinMarketCap.
TON’s drop in market capitalization rankings is due to a recent price correction that occurred following the arrest of Telegram co-founder Pavel Durov. TON has fallen 18% in the past 30 days and fell to a low of $5.11 on Tuesday due to network outages, exacerbating the downward trend in prices.
In comparison, TRON has gained 16% during the same period, in part due to the launch of its founder Justin Sun’s new meme coin generator, SunPump. SunPump quickly attracted market attention, surpassing Solana's Pump.fun platform in daily revenue. Last Wednesday, SunPump issued 7,531 meme coins and generated $567,000 in revenue, surpassing Pump.fun’s $368,000.
Data from IntoTheBlock shows Toncoin has seen reduced inflows from large holders, a sign that major investors are becoming cautious and could signal further losses.
As of August 28, Toncoin ranked tenth with a market capitalization of $13.5 billion, followed by Cardano, which has a market capitalization of approximately $13 billion. Previously, TRON had surpassed Cardano’s market capitalization, knocking it out of the top ten.
