TRON Nears Cardano in Market Cap Amid Strong Growth

Key Takeaways
TRON (TRX) is steadily approaching Cardano (ADA) in terms of market capitalization. While ADA currently stands at around 23 billion USD, TRX is close behind at approximately 22 billion. Both cryptocurrencies have lost value in recent months, but TRON is showing more stable price patterns and stronger network growth. If the market recovers, TRX could overtake Cardano.
Market Trends: TRX Catching Up
Since December 2024, TRON has increased its market capitalization to over 20 billion USD — a new all-time high. Currently, its value sits around 22 billion. During the same period, ADA lost over 20 billion in market value and now stands at about 23 billion. This development brings both projects to a comparable level.
TRX recently recorded a weekly gain of 4% and a 33% increase in trading volume. These figures indicate growing interest and activity within the network. If the market continues to stabilize, TRON could soon surpass Cardano.
Support Levels Compared
Both projects have tested key support levels. TRX has been hovering around the 0.20 USD mark for months, successfully defending this level four times. ADA, on the other hand, is holding at 0.60 USD but has only tested this support twice. In a further downtrend, ADA is therefore more vulnerable to losing this level.
Derivatives Structure: Higher Risk for ADA
A look at the derivatives market reveals clear differences. Cardano shows an open interest (OI) of 766 million USD — down from 1.12 billion at the beginning of the year. TRON is significantly lower at 195 million. This means there is more speculation around ADA, which can lead to larger liquidations in volatile markets.
In the past 24 hours, over 2 million USD in long positions were liquidated for ADA, while TRX saw only 57,700 USD in liquidations. In a bull market, ADA could benefit from this. In a bear market, however, TRX is more resilient.
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On-Chain Data Favour TRON
Blockchain data paints a clear picture: TRON is growing, while Cardano is losing activity. The number of daily active addresses for ADA has dropped by 42.6% year-over-year, now standing at only 23,477. TRX, in contrast, has seen a 53.1% increase to 2.6 million.
TRON also leads significantly in network fees: over 1 million USD were generated, compared to just 8,900 USD for Cardano. In decentralized exchange (DEX) volume, TRON dominates with 76.1 million USD versus Cardano’s 1.9 million.
Our Assessment
TRON currently shows stronger fundamentals than Cardano. Higher network activity, lower volatility in the derivatives market, and stable support zones all favour TRX. If the market recovers, it is realistic that TRON could surpass Cardano in market capitalization.
For investors focused on long-term growth and network utility, TRON currently offers more attractive metrics. However, Cardano remains a relevant player — especially in bullish phases with high derivatives demand.