It is interesting to note the current competition between Toncoin and Cardano. [ADA], especially now that Toncoin recently surpassed Cardano in the market cap ranking.
Toncoin’s market cap is over $25 billion, while Cardano is over $20 billion. TON has more profit offer compared to ADA. Beyond their market cap positions, a deeper comparison between the two assets reveals some interesting activities.
Current Positions: Toncoin 9th, Cardano 10th
Data from CoinMarketCap (CMC) revealed that Toncoin currently occupies the ninth position in terms of market capitalization, with over $25.6 billion. Meanwhile, Cardano has fallen to 10th place with a market capitalization of $20.9 billion. What is particularly noteworthy about this change in market capitalization ranking is that Cardano, which previously held the ninth position, was surpassed by Toncoin, as the latter saw a surge in price.
Due to the absence of notable price movement in ADA, TON’s upward trajectory caused Cardano to fall in the rankings. Toncoin and Cardano show reverse price trends. Analysis of the daily time charts of Toncoin and Cardano reveals contrasting trading activities between the two assets.
While Cardano has seen relatively higher trading volumes, Toncoin began to show a more positive trend towards the end of February. During the period from February 27 to the present, TON has increased by approximately 160%.
In contrast, ADA saw a drop of around 8% during the same period. TON’s chart indicates consecutive increases over the past four days, with its current price hovering around $7.4, representing a gain of over 9%. Its Relative Strength Index (RSI) suggests a strong uptrend and overbought state. Most recently, it was over 75.
On the other hand, ADA’s performance has been less strong, with no consecutive increases in the last four days. While TON has seen significant gains, ADA has struggled to maintain momentum; the largest increase observed during this period was approximately 4%.
Recently, ADA was trading at around $0.5, with no immediate signs of an increase. Furthermore, its RSI remains below the neutral line, indicating a bearish trend for ADA.
Recent Trends
Analysis of 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. In contrast, ADA has seen a decline in active addresses. However, it still maintains a higher number compared to TON, with approximately 96,500 active addresses registered lately.
Furthermore, examination of the volume metric shows that TON has a higher trading volume than ADA. As of now, TON volume was over 714.8 million, while ADA volume was around 433.4 million.
Furthermore, the chart indicates a downward trend in ADA volume. TON, ADA Profitability Check Cardano’s fluctuating price trend has evidently affected its profit offering. Analysis of the bid-to-earnings metric reveals that ADA’s bid-to-earnings has dropped to approximately 63%. This decline occurred despite the recent uptrend observable on the chart, which indicates that there are currently around 22.6 billion ADA in profit.
On the other hand, when looking at TON, it is evident that over 9.3 million of its supply is currently making a profit. Surprisingly, 100% of the TON supply is still profitable despite the drop that can be observed on the chart.
Overall, the competition between these two assets continues and it will be intriguing to watch how they evolve in the coming weeks and months.
By Leonardo Perez
