TRON’s market price gains can push Toncoin out of the top 10
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Toncoin's market cap has dropped by $4 billion in three days. TRON's market cap has surpassed Cardano's following a previous price hike.
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Toncoin (Ton) is in danger of leaving the top 10 crypto assets in TRON (TRX) growth. According to data from CoinMarketCap, TRON's market value has fallen below $13 billion over the past three days, while TRON has risen above $14 billion.
Telegram's co-founder and CEO Pavel Durov was arrested, and TRON lost its market place due to price manipulation. Toncoin's price is down 18% over the past 30 days, hitting a low of $5.11 on Tuesday as a network outage added to the bearishness of the price action.
The price of TRON, on the other hand, increased by 16% in the same period, partly due to the introduction of Solar Pump, a new meme coin token by Tron founder Justin Sun.
Tron's startup, SunPump, quickly gained traction, surpassing Solana-based platform Pump.fun in daily revenue. As reported by Crypto Briefing, SunPump generated $567,000 from 7,531 launched memecoins last Wednesday, surpassing Pump.fun's $368,000 from 6,941 tokens.
Data from IntoTheBlock also shows a decrease in the flow of large holders of Toncoin, which tracks wallets that hold more than 1% of the circulating supply. That suggests a cautious stance from major investors, which could signal further declines.
As of August 28, Toncoin ranks 10th with a market cap of $13.5 billion, followed by Cardano at around $13 billion. Earlier, TRON surpassed Cardano in market capitalization, knocking it out of the top 10.
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