Cardano (ADA) and Dogecoin (DOGE) Outshine Bitcoin as the Crypto Economy Reaches $3.48 Trillion

As cryptocurrencies continue to establish themselves as legitimate financial assets, the digital currency landscape is currently dominated by Cardano (ADA) and Dogecoin (DOGE).

As cryptocurrencies become more widely recognized as a legitimate class of financial assets, two digital currencies that have managed to outshine the industry’s giants like Bitcoin are Cardano (ADA) and Dogecoin (DOGE). In fact, as the second-largest digital asset, Bitcoin is valued at $98,000, which is a 2.52% increase over 24 hours. However, both ADA and DOGE managed to outpace even Bitcoin.

Out of the top ten cryptocurrencies by market valuation, every single one posted gains on Friday, which is a sign of a recovering crypto market ahead of the weekend. Among the top gainers, Bitcoin (BTC) appreciated 1.2%, crossing the crucial $98,000 threshold. However, Ethereum (ETH) outperformed Bitcoin, rising 3.76% against the dollar. Meanwhile, Dogecoin (DOGE) registered an impressive 11% surge, making it the seventh-largest cryptocurrency by market capitalization.

Cardano (ADA) also made significant strides with an exceptional 13.63% appreciation over 24 hours, securing its position as the ninth-largest crypto asset, just below USD Coin (USDC). USDC’s market capitalization is currently valued at $45.13 billion, with ADA following closely behind at $38.07 billion, which leaves a gap of $7.06 billion between the two.

Other digital assets that saw substantial gains include SPX, a meme coin, which achieved a staggering 32.77% increase. Similarly, Fartcoin (FARTCOIN) also lived up to its whimsical branding, recording a noteworthy gain of 17.46%. However, not all digital assets enjoyed a successful trading day. FTX token (FTT) declined by 6.60%, while GOAT fell 6.08%, and VIRTUAL dropped 5%.