Cardano Retakes 10th Spot as Trump's Election Victory Invigorates Crypto Markets

The previous bull cycle saw Cardano reaching a peak $91 billion market cap, securing its place as the third largest crypto project behind Bitcoin and Ethereum.

Cardano has once again secured a spot in the top 10 crypto projects by market cap, ousting Toncoin from ninth place.

The ADA token’s performance, coupled with a broader market uptick, has seen Cardano rise through the ranks despite a lackluster 4.6% gain over the past week.

At the time of writing, Cardano is valued at $13.2 billion, while Toncoin sits at eleventh place with a market cap of $12.5 billion.

Cardano’s return to the top ten comes as no surprise, especially considering the recent Cardano Summit, which showcased several key developments.

Liechtenstein exchange LCX announced plans to integrate support for Cardano Native Tokens, aiming to become the primary CEX for Cardano assets.

Another major announcement was the unveiling of BitcoinOS’s bridge, enabling Bitcoin users to leverage Cardano’s smart contract capabilities and scalability without relying on trust.

Furthermore, the USDM stablecoin recently gained approval under the EU’s Markets in Crypto Assets (MiCA) framework, following USDC.

According to USDM founder Matthew Plomin, the partnership with Norwegian Block Exchange (NBX) was crucial as MiCA regulations stipulate a physical presence in the EU.

This partnership aligns with the exchange’s deep understanding of the ecosystem, including its work towards a community-led governance model.