A battle of supremacy among the top 10 cryptocurrency assets might be between Cardano ($ADA) and Tron ($TRX). Cardano, the 10th-ranked cryptocurrency asset by market capitalization, might dethrone Tron if the ongoing bullish reset continues.
Cardano price breakout sparks flippening speculation
According to CoinMarketCap data, Cardano has rallied by over 3% as the coin witnessed a technical breakout. This rebound move, triggered by the activities of large holders and exchange-traded fund (ETF) speculations, has repositioned $ADA for a higher price level.
Notably, Cardano is aiming to climb to $0.90 on the strength of the current market momentum. Such an upward surge could boost its market capitalization from the current $30.12 billion to over $32.1 billion.
There is a total of 35.74 billion $ADA in the circulating supply, and if Cardano surges to $0.90, the increase is enough to flip Tron, which stands at $32.06 billion.
As of press time, Cardano is changing hands at $0.844,0, representing a 3.26% increase in the last 24 hours. The coin had previously hit an intraday peak of $0.8461 before witnessing a slight correction. The price movement suggests the asset has the potential for higher levels if buying volume holds.
Currently, $ADA trading volume is up by a significant 28.24% to $1.09 billion. With a Relative Strength Index (RSI) of 45.2 and increased activity of ecosystem whales, $ADA might just climb higher in the rankings.
Will Tron hold its ground amid market volatility?
Interestingly, Tron, within the same time frame, has recorded a slight 0.08% decline in price and trades at $0.3386. The asset dropped from a peak of $0.3391 amid market volatility.
However, Tron might not give up its spot easily, as percentage volume is significantly higher than that of Cardano. $TRX’s trading volume is up by 31.31% to $947.28 million.
How this battle plays out remains of interest to market observers given Cardano’s history of volatility. Around mid-August, the asset climbed to eighth place, flipping Tron, but could not find stability.
ambcrypto.com