Cardano (ADA) Loses Ground in the Top-10 Cryptocurrency Rankings

🔘 The native token of the Cardano project, ADA, has fallen out of the top-10 cryptocurrency rankings by market capitalization. It now holds the 11th position, giving way to Tron (TRX) in the 10th spot. ADA’s market capitalization is $12.34 billion, and its market dominance has dropped to 0.58%.

🔘 The Cardano project was launched in 2017 and became one of the first networks to use the Proof-of-Stake consensus mechanism. In 2021, during the bullish market, the token’s market cap reached $77 billion, allowing it to rank 4th. However, Cardano’s dominance has since decreased to 0.58% amid the overall recovery of the crypto market.