The cryptocurrency market witnessed a significant surge as TON, a relatively lesser-known crypto, soared into the top 10 rankings, surpassing the well-known cryptocurrency Cardano.
Pro-XRP lawyer Bill Morgan’s recent tweet highlights the unexpected rise of TON and raises questions about the stability of ADA’s position in the rankings. Despite concerns about XRP’s standing, it’s ADA that now faces the risk of slipping out of the top 10, with AVAX closely trailing behind.
TON Surges into Top 10
In the past day, TON coin experienced a remarkable surge of over 20%, pushing it into the top 10 cryptocurrencies by market capitalization. With its market cap rising by 17.8% to $23.75 billion, TON now sits at the 9th position, surpassing ADA, which stands at $21.74 billion.
Amidst the celebrations, Bill Morgan, shed light on the shifting sentiment within the crypto space, with TON’s rise posing a direct challenge to Cardano’s standing.
While many anticipated XRP’s potential exit from the top 10, it is ADA that finds itself in a precarious position. With TON’s sudden surge, ADA’s foothold in the top 10 rankings appears more vulnerable than ever.
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The rivalry between Cardano and XRP has been a topic of discussion within the crypto community, with tensions occasionally flaring between key figures.
Earlier this year, Charles Hoskinson, founder of Cardano, has previously criticized the XRP community, alleging coordinated attacks against him. As the competition intensifies, the outcome remains uncertain, highlighting the dynamic nature of the cryptocurrency landscape.
Price Movements
While TON surged by over 20% in the past 24 hours, trading at $6.78 with a market cap of $23.73 billion, Cardano saw a relatively modest increase of 1.02%, trading at $0.6022, with a market cap of around $21.52 billion.
Meanwhile, XRP maintained stability, registering a slight uptick to $0.6078, with a market cap of $33.54 billion.
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