XTZ vs ADA: Rivalry for the 10th spot continues
- XTZ and ADA are currently locked in a rivalry, with the goal of winning the right to be the 10th largest coin.
- Both projects saw excellent news in the past few months, which positively impacted their prices.
- Even their market caps are very close to one another, and for now, it is unclear which one will claim the spot
In the crypto industry, a lot of aspects can decide how the coin is being viewed. Its price is important, although not that much — the price performance is much more important. However, most people would only focus on the coins that are ranking high based on their market cap.
This is why the top 10 coins by market cap are usually the most successful projects, and why they are mostly the ones that investors around the world are keeping an eye on.
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Tezos VS Cardano
Tezos (XTZ) is a coin that focuses heavily on security. It is among the best performing coins in 2020, and even a look back at its performance in 2019 shows that the coin has been on a steady rise for a while, now.
The project lost around 0.47% of its price in the last 24 hours, and it currently has a price of $2.88. Its market cap sits at $2.11 billion, which puts it at 11th spot on the list of largest cryptos by market cap at the time of writing.
On the other hand, there is Cardano (ADA), which is a well-known coin with a well-known founder — Charles Hoskinson. Hoskinson recently revealed several key pieces of information about the project, such as the fact that its Shelley protocol implementation will take place on July 7th.
Meanwhile, the project just opened its Shelley testnet to all interested members of its ecosystem yesterday, June 9th.
All of this affected Cardano’s price in a very positive way, as well. Cardano grew by quite a bit due to these news, and it is currently seeing a price correction. It lost 4.19% of its price in the last 24 hours. Its price currently sits at $0.08, but even so, ADA has a market cap of $2.11 billion as well,
However, it leads by just enough to sit at 10th position, while it pushed XTZ to the 11th spot. If ADA price drop doesn’t slow down soon, XTZ might overtake it, although this has yet to be decided.