Ah, Cardano (ADA), once the proud occupant of the 10th spot in the cryptocurrency hall of fame, has decided it’s time for a little vacation from the limelight. Yes, folks, it has slipped out of the rankings, much like a cat burglar in the night-only this one leaves behind a trail of confused investors.
For months, our dear Cardano valiantly defended its tenacious hold on the crypto leaderboard, dodging the advances of pesky contenders like Bitcoin Cash, Chainlink, and Monero, all eager to take a bite of the market capitalization pie. But today, in a twist worthy of a dramatic soap opera, Hyperliquid (HYPE) swooped in and flipped Cardano right off its cushy perch.
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But fret not, for Cardano held its ground long enough to let us know it was still there, waving from the 11th place podium, while Hyperliquid now struts around as the new crypto darling in 10th place. At the moment, Cardano sits at a cozy $10.69 billion valuation, while Hyperliquid is flaunting a slightly superior $10.97 billion. Talk about keeping up with the Joneses!
Hyperliquid’s native token, HYPE, has been on quite the rally since late January, proving that if you throw enough HYPE (and possibly some pixie dust) at the problem, you can create markets for just about anything-even those odd socks lurking at the back of your drawer. With a recent record high of $1 billion in open interest and a staggering $4.8 billion in 24-hour volume, who wouldn’t want a slice of that action?
Meanwhile, Cardano is left wondering how to reclaim its former glory. To do so, it needs a quick rally-preferably one that doesn’t involve tripping over its own feet-to close the $0.28 billion gap between itself and Hyperliquid. That’s a mere $280 million, which in the world of cryptocurrencies might as well be the equivalent of finding a tenner in an old coat pocket.
However, the competition is fierce, with a yawning chasm of about $7 billion separating the 9th largest crypto, Dogecoin (DOGE), currently basking in a $17.98 billion glow. This makes flipping positions a bit more challenging than flipping pancakes on a Sunday morning.
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2026-02-03 17:10