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Cardano Market Cap 75% Higher Than Solana, but ADA Price Surge Lags Behind

Crypto analyst Ben Armstrong, also known as Bitboy, tweeted about the market caps of Cardano (ADA) and Solana (SOL).

Cardano Logo
Cardano Logo

He pointed out that despite fan trolls trying to make Solana look more relevant, Cardano has a market cap 75% higher than Solana. Cardano is among the top ten coins in market rank, while Solana is struggling in the 14th position alongside Tron (TRX). The market cap of ADA is 8.94 billion, while SOL and TRX have a market cap of almost 5.07 billion.

ADA Price Shows Modest Increase; SOL Sees Stronger Surge

In terms of price performance, ADA has seen a 4.32% and 5.33% increase in the past 24 hours and the last seven days, respectively. At the time of writing, the coin is trading at $0.2648. On the other hand, SOL has seen a much stronger surge, with a 16.83% increase in the past 24 hours and a 36.85% increase in the past week. It is currently trading at $13.83. While ADA has a higher market cap, its recent price performance has been relatively weaker compared to SOL.

ADA and SOL Price Outlook

The overall crypto market has been in an uptrend since the start of the year, and both ADA and SOL have seen surges as a result. However, ADA showed a red candle in the past day, though it did see an intraday surge to $0.2658. To continue its uptrend, ADA will need to reach the 51-day EMA line and potentially reach a price of $0.3000. It may fall back to the $0.2440 support zone if it does not.

On the other hand, SOL has climbed 16.83% over the past day and is approaching the 51-day EMA line. If it touches this line, it may see further gains in the coming days. Among the top 50 coins by market cap, SOL saw the largest range of movement in the past 24 hours.