- Cardano (ADA) has flipped Tron (TRX) to become the 9th-largest crypto by market cap at $31.35 billion
- The move was driven by a powerful 78% rally for ADA since late June, far outpacing the broader market
- A key long-term catalyst is Cardano’s potential inclusion in a proposed US government crypto reserve
Cardano (ADA) is on a remarkable run, surging 78% since the last week of June to topple Tron (TRX) and become the 9th-ranked cryptocurrency by market capitalization. The rally for ADA began after the token bounced off a key support level at $0.5101.
Cardano’s market cap is $31.35 billion
Data from CoinMarketCap confirms the move, showing ADA’s market cap at $31.35 billion, ahead of TRX’s $29.78 billion. This outperformance is clear in the price action, with ADA gaining over 27% in the past seven days while TRX has fallen by 6% over the same period.
While the broader crypto market has been rallying, ADA has been a standout performer among top-tier cryptocurrencies. It stands as one of the most significant gainers amid the general upsurge in prices. This rediscovered momentum has boosted sentiment among investors, suggesting a potential for continued demand and a push toward higher price targets.
What is behind Cardano’s new form?
From a technical standpoint, ADA is approaching the mid-level of a 6-month Fibonacci retracement on the daily chart. The recent surge saw the altcoin break through two previous resistances with significant momentum, making a move to the 0.5 Fibonacci resistance level at $0.92 more likely.
Cardano’s latest achievements solidify its status as a highly demanded blockchain solution, with many analysts considering it a flagship decentralized project with real-world utility. Despite these recent gains, the Cardano team continues to refine the network by upgrading its scaling solutions and promoting the project’s mainstream adoption.
Related: Cardano (ADA) Price Approaches ‘Bull Market Door’: What’s Next?
Meanwhile, Cardano’s potential inclusion among the cryptocurrencies in a proposed US crypto reserve remains one of its most bullish long-term catalysts. That news originally triggered a rally for ADA in the first quarter of 2025. The recent break above the $0.85 resistance has now renewed investor confidence as they look toward higher targets.
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