The Tron (TRX) has been low-key for several years. The asset took the sidelines as several new assets were seen making headlines. In a new turn of events, TRX managed to catch the community’s attention. The asset managed to rise by nearly 80% over the past year. The altcoin went from a low of $0.084 to a high of $0.166. Currently, TRX is trading at $0.1506 with a daily drop of 1.11%.
Also Read: XRP Skyrockets Amid SEC Drama: $0.60 Breakout Imminent?
While its price remained steady, Tron’s market cap slightly dropped. The network was taken over by Cardano (ADA). Cardano has had a noteworthy 12% price spike over the last week. This further propelled it back into the top 10 cryptocurrencies by market capitalization. With a market valuation of $13.45 billion, Cardano now has a higher position than TRON, which is valued at $13.17 billion.
Also Read: Visa to Help Banks Test Tokenized Assets and Smart Contracts
Tron In September
It is unlikely that TRX will be able to beat Cardano during the rest of the week. According to data from Changelly, TRX will encounter a double-digit drop over the next couple of days. Following a nearly 15% drop, Tron will dip to a low of $0.129627 later this week.
With this negative sentiment in the Tron TRX market, the asset might continue to stay out of the coveted top ten. If Cardano comes across a bearish streak, then TRX might have a chance and get on top. But the Cardano network has been making strides. More recently, the ecosystem revealed that it is moving toward a completely decentralized governance architecture, in which the community will manage ongoing updates and sustainability.
Also Read: PEPE And WIF Predicted To Hit New All-Time Highs: Here’s When