Cardano is no longer the world’s third largest cryptocurrency

Cardano’s ADA token skyrocketed back by 150% in August to become the third largest cryptocurrency in the world by market capitalisation. But, its triumph seems to have been short-lived.

While the rest of the crypto market struggled to decide its direction, the decentralised blockchain platform was knocked off its perch by Tether, the largest stablecoin in the world, on September 29.

The difference between the two expanded to $3 billion during the night, however, it has shrunk to a mere $1 billion as of 9:00am Indian Standard Time (IST) as Cardano looks to reclaim its throne.



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