Cardano (ADA) is on a remarkable run, surging 78% since the last week of June to topple Tron (TRX) and become the 9th-ranked cryptocurrency by market capitalization. The rally for ADA began after the token bounced off a key support level at $0.5101.
Cardano (ADA) is on a remarkable run, surging 78% since the last week of June to topple Tron (TRX) and become the 9th-ranked cryptocurrency by market capitalization. The rally for ADA began after the token bounced off a key support level at $0.5101.
Data from CoinMarketCap confirms the move, showing ADA’s market cap at $31.35 billion, ahead of TRX’s $29.78 billion. This outperformance is clear in the price action, with ADA gaining over 27% in the past seven days while TRX has fallen by 6% over the same period.
While the broader crypto market has been rallying, ADA has been a standout performer among top-tier cryptocurrencies. It stands as one of the most significant gainers amid the general upsurge in prices. This rediscovered momentum has boosted sentiment among investors, suggesting a potential for continued demand and a push toward higher price targets.
From a technical standpoint, ADA is approaching the mid-level of a 6-month Fibonacci retracement on the daily chart. The recent surge saw the altcoin break through two previous resistances with significant momentum, making a move to the 0.5 Fibonacci resistance level at $0.92 more likely.
Cardano’s latest achievements solidify its status as a highly demanded blockchain solution, with many analysts considering it a flagship decentralized project with real-world utility. Despite these recent gains, the Cardano team continues to refine the network by upgrading its scaling solutions and promoting the project’s mainstream adoption.
Meanwhile, Cardano’s potential inclusion among the cryptocurrencies in a proposed US crypto reserve remains one of its most bullish long-term catalysts. That news originally triggered a rally for ADA in the first quarter of 2025. The recent break above the $0.85 resistance has now renewed investor confidence as they look toward higher targets.
