- Toncoin’s market cap is over $25 billion, while Cardano has over $20 billion.
- TON has more supply in profit compared to ADA.
It’s interesting to observe the ongoing competition between Toncoin and Cardano [ADA], especially with Toncoin recently overtaking Cardano in market capitalization ranking.
Beyond their positions in market cap, a deeper comparison between the two assets reveals some interesting activities.
Toncoin ninth, Cardano tenth
Data from CoinMarketCap (CMC) revealed that Toncoin currently holds the ninth position in terms of market capitalization, boasting over $25.6 billion.
Meanwhile, Cardano has slipped to the tenth spot with a market cap of $20.9 billion. What’s particularly noteworthy about this shift in market cap ranking is that Cardano, previously occupying the ninth position, was surpassed by Toncoin as the latter experienced a surge in price.
Due to the absence of notable price movement in ADA, the upward trajectory of TON caused Cardano to slide down in the rankings.
Toncoin and Cardano show converse price trends
Analysis of the daily timeframe charts for Toncoin and Cardano reveals contrasting trading activities between the two assets. While Cardano has seen relatively higher trading volumes, Toncoin began to exhibit a more positive trend towards the end of February.
Over the period from 27th February to the present, TON has surged by approximately 160%. In contrast, ADA has experienced a decline of around 8% during the same timeframe.
TON’s chart indicates consecutive increases over the past four days, with its current price hovering around $7.4, marking a gain of over 9%. Its Relative Strength Index (RSI) suggests a strong bull trend and an overbought state. It was over 75 at the time of this writing.
Source: TradingView
On the other hand, ADA’s performance has been less robust, with no consecutive increases over the past four days. While TON has seen significant gains, ADA has struggled to maintain momentum, with the highest increase observed during this period being approximately 4%.
At the time of writing, ADA was trading at around $0.5, with no immediate signs of increase. Furthermore, its RSI remains below the neutral line, indicating a bearish trend for ADA.
Source: TradingView
Toncoin bests Cardano in volume and active addresses
Analysis of the seven-day active addresses for Cardano (ADA) and Toncoin (TON) revealed interesting trends. TON is currently experiencing its highest level of active addresses in history, with 2,969 active addresses at the time of writing.
Conversely, ADA has seen a decline in active addresses. However, it still maintains a higher number compared to TON, with approximately 96,500 active addresses recorded at the time of writing.
Source: Santiment
Furthermore, examining the volume metric demonstrates that TON has a higher trading volume than ADA. At the time of writing, TON’s volume was over 714.8 million, whereas ADA’s volume stood at around 433.4 million. Additionally, the chart indicates a declining trend in ADA’s volume.
TON, ADA profitability check
The fluctuating price trend of Cardano has evidently affected its supply in profit. Analysis of the supply in profit metric reveals that ADA’s supply in profit has dwindled to approximately 63%.
This decline occurred despite the recent uptrend observable on the chart, indicating that around 22.6 billion ADA are currently in profit.
On the other hand, examining TON, it becomes apparent that over 9.3 million of its supply is currently in profit. Surprisingly, 100% of TON’s supply remains in profit despite a decline that can be observed on the chart.
Indeed, Toncoin has been demonstrating improvements across several key metrics, not just limited to its price. However, Cardano (ADA) seems to lag in this regard.
Read Cardano (ADA) Price Prediction 2024-25
Nonetheless, considering the disparity in their market capitalization volumes, ADA could potentially climb in the market cap rankings if it experiences a substantial price surge.
The competition between these two assets is ongoing, and it will be intriguing to observe their developments in the coming weeks and months.
