- ADA and TRX are locked in a tight race for the 10th position in the crypto market.
- ADA has a market cap of $13.13 billion while TRX has a market cap of $13.26 billion.
- Tron’s SunPump surpassed Solana’s pump.fun in daily revenue.
TRX and ADA, the native tokens of Tron and Cardano respectively, are currently battling it out for the 10th spot in the cryptocurrency rankings. This fierce competition is driven by high activity on the Tron network, fueled by the recent launch of SunPump, a meme coin platform.
TRX’s price has surged recently, gaining 16.43% in the past seven days alone, according to CoinMarketCap. This impressive performance can be attributed to the hype surrounding SunPump, which aims to rival Solana’s meme coin scene.
Strikingly, TRX has maintained a similar level of growth over the past 30 days as well, gaining roughly 16.28%, mirroring its impressive 7-day performance. Since August 2023, it has seen a remarkable 104.47% increase. However, the altcoin experienced a 5.39% dip in the last 24 hours and is currently trading at $0.1534.
On the other hand, ADA is up 1.86% in the past 24 hours with a 8.36% surge in the past week and 39.66% price increase since August 2023. Further, ADA prices plunged a massive 16.46% in the past 30 days, as per CoinMarketCap data.
The prevailing meme coin craze and rising stablecoin transactions on Tron have clearly given TRX the upper hand. As of now, TRX holds the 10th position with a market cap of $13.29 billion, while ADA sits at 11th with a market cap of $13.13 billion.
This dynamic could shift if the SunPump hype cools down. ADA has its own catalysts on the horizon, including the upcoming Chang hard fork and the introduction of the Cardano Constitution, which could propel it past TRX.
Data from Dune reveals that SunPump’s 24-hour revenue has overtaken that of its main competitor on Solana, pump.fun. This indicates that the meme coin trend on Tron is reaching a fever pitch. SunPump raked in 3.65 million TRX (roughly $548,000) in daily revenue, compared to pump.fun’s 2,575 SOL (about $367,195) during the same period.
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