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Cardano currently ranks as the 13th largest cryptocurrency by market capitalization. Next to it is Monero (XMR), which ranks as the 14th largest cryptocurrency.
Cardano slipped from the top 10 cryptocurrencies by market capitalization in the past month and has struggled to reclaim this spot but this wasn't so as it fell further. Now the 13th largest cryptocurrency by market capitalization, Cardano has contenders for its current market spot.
Monero is currently advancing to reach the 13th spot, but it still has $2.5 billion to go to achieve this milestone. Cardano's market capitalization is currently $8.53 billion, while Monero's is currently $6 billion.
This implies that the chances of Monero overtaking Cardano remain quite slim, except the latter sees a surge that pushes its market capitalization past $9 billion.
In recent news, Cardano has now been integrated on the Dune network. In a tweet, Dune provides a recent snapshot of the Cardano network.
$135 million in total value is currently locked across 33 protocols; nearly 22,000 daily transactions, 38% involving smart contracts; $47.7 million in stablecoin supply (USDC at $17.4 million); 21.7 billion ADA staked (which represents about 59% of circulating supply); Nakamoto Coefficient of 168 and 1.35 million active delegators.
Crypto market in red
The broader crypto market is currently trading in red, with total liquidations reaching $386 million over the last 24 hours.
Cryptocurrencies fell across the board as investors pulled back from risk assets with stock and commodity markets continuing to whipsaw.
At the time of writing, Cardano was down 4.46% in the last 24 hours to $0.236; Monero was down 3.26% in this timeframe to $326.
For economic data, on Thursday morning, traders will be watching for initial jobless claims for the week ending March 28, while March’s jobs report is set for release on Friday morning.