- TON flipped ADA, making it the ninth most valuable asset in market value.
- ADA fell 15% last month and has barely increased since the start of 2024.
Cardano [ADA] Was at serious risk of falling out of the list of top 10 cryptos based on market capitalization.
Cardano is no longer the only coin in circulation
Telegram’s cryptocurrency has seen a 16% increase in just 24 hours. Toncoin [TON] Data from CoinMarketCap showed. It wasn’t too long ago that the meme coin king was a big deal. Dogecoin [DOGE] The following are some of the most common questions that people ask. overtaken Cardano in market value
Observers were intrigued by the repeated slide in rankings of market shares. predicting ADA was eventually surpassed Avalanche [AVAX] As well as.
Cardano sees FUD, supporters defend
Negative commentary Around ADA is surging, thanks to the underperformance of the coin on price charts. ADA fell by over 15% last month. recorded Any noticeable rise since the beginning of 2024
It was a poor performance that elicited criticism from influential people like Arthur HayesEven crypto exchanges such as Gemini.
Cardano’s community has been able to vigorously counter these arguments each time. A passionate member of the community known as ADA Whale on X firmly rebuked the recent hot topic that TON was surpassing Cardano.
ADA Whale highlighted Cardano’s top 10 holders of TONs control just 8.96% of its supply, whereas in TON, top 10 holders of TONs hold 60%.
Cardano’s low fees, stability and other attributes are questioned by another proponent. Also, they made an indirect comparision with Solana [SOL] The struggle was with transaction failures.
You can read more about it here ADA’s Price Prediction 2024-25
What is the reality on the ground?
Despite their ardent defense, ADA is struggling to gain favor with the large investors. AMBCrypto analyzed Santiment data and found that transactions over $1 million had dropped significantly in the last few weeks.
Moreover, the holdings of important whale groups shrank at the same time. This suggests that whales are selling off ADA.
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Source: ambcrypto.com