Investors and analysts are trying to predict Cardano’s (ADA) price’s future performance. As the price continues to show red numbers, a top crypto analyst considers that ADA is “right where it should be.”
Cardano Loses 10th Spot Against Telegram’s Toncoin
Cardano’s recent spotlight has highlighted its disappointing price performance and lack of appeal for traders. Despite its technology and strong community, the ecosystem lacks the activity and demand of other chains like Solana.
Recently, Charles Hoskinson defended the project, stating that “Cardano always wins,” referencing a poll ranking the best Layer-1 networks. Moreover, Hoskinson took another jab at Solana’s network problem after its recent transaction failure rate reached 75%.
Nonetheless, on Tuesday, ADA lost its spot in the top ten cryptocurrencies after being flipped by Toncoin (TON). According to CoinGecko data, Cardano’s market capitalization of $20.1 billion was surpassed by TON’s $23.3 b
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