Cardano (ADA) faced a major reputational threat in the last 24 hours as its price experienced sharp fluctuations. Notably, ADA’s value dipped from an intraday peak of $0.3617 to a low of $0.3499 in a move that extended its weekly loss by 15.36%.
Cardano narrowly defends top 10 market cap ranking
CoinMarketCap data reveals that Cardano, currently ranked 10th by market capitalization, was on the verge of losing the top 10 spot to Bitcoin Cash (BCH). Cardano’s market capitalization stands at $12.86 billion, while Bitcoin Cash is closing in with its $11.82 billion.
The recent price fluctuation which ADA displayed on the market could have triggered a massive dip for Cardano. For instance, if ADA’s price had breached the $0.31 support level, its total market cap would have crashed to $11.17 billion.
The $1.69 billion drop in its market cap would have been enough for Bitcoin Cash to edge out Cardano from the elite top 10 crypto assets. Cardano crashed out of the elite league in 2024 and only rejoined in September of that year. Its lingering volatility raised concerns about its position in 2025 as investors’ interests declined.
As of press time, Cardano exchanges hands at $0.3578, which represents a 0.49% decline in the last 24 hours. Its trading volume is marginally in the green zone by 0.02% at $633.54 million. The constant sell-off by traders engaged in profit-taking has hindered the coin’s sustained growth.
However, Cardano’s Relative Strength Index (RSI) at 37.9 suggests that the coin is not oversold yet. Although the momentum is currently weak, it still could face further decline in price. For now, the threat has been averted, and its reputation as a top 10 asset remains intact.
To maintain its status, Cardano’s price needs to rebound and reclaim the $0.39 to $0.42 zone. If it climbs to this level and sustains the momentum, a more sustainable price rally can be anticipated on the ADA market. The asset traded at this level exactly seven days ago, supported by a massive surge in trading volume.
Ecosystem developments fuel rebound hopes
On the broader Cardano ecosystem, optimism remains high that the network will experience growth.
Some in the community believe Cardano has gotten off to a bullish start with notable developments. These include a new exchange-traded fund (ETF) application for ADA.
Other bullish moves include the listing of Cardano Midnight on Coinbase, finalization of CIP for Leios and Google Cloud launching a stake pool on testnet. Many consider these developments to be indicative of a great 2026 ahead.