Cardano (ADA) price surges 16%, returns to top 10 by market capitalization, surpasses TRON
Cardano (ADA) has recently seen a 16% price increase, re-entering the ranks of the top ten cryptocurrencies by market capitalization, surpassing TRON. New updates to the network, a successful fork, and the launch of aminnet have all fueled ADA’s strong performance, and analysts generally believe this is just the beginning of ADA’s comeback.
ADA counterattacks TRON and returns to the top ten
Cardano has surged 16% in price over the past week, re-entering the ranks of the top ten cryptocurrencies. The rally comes after weeks of price consolidation, allowing Cardano to regain its position as the leading digital asset.
Over the past eight days, the price of ADA has increased significantly from $0.328 to $0.376. Currently, Cardano is trading at $0.38, up 3.4% in the past 24 hours. Its market capitalization reached $13.45 billion, surpassing TRON’s $13.17 billion and returning to the top ten.
Get ready for a fourth-quarter bull run
Cardano’s price rise is in line with gains in the overall cryptocurrency market, following the Federal Reserve’s recent decision to cut interest rates by half a percentage point, its first rate cut in four years. Additionally, Cardano is also moving towards a fully decentralized governance model, which sets the stage for its future growth.
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