- Cardano requires market cap increase to $107 billion to surpass Solana’s current position.
- ADA trades with $23 billion market cap after dropping 20.30% over past month.
- Community member Tyler Burke cites November growth pattern, urges preparation for rally.
Cardano faces a steep climb to overtake Solana in global cryptocurrency rankings despite recent recovery attempts. The token’s path back to prominence requires substantial price appreciation from current levels.
ADA briefly rallied to $0.6913 on Monday, raising investor hopes for a move toward $0.70. However, the advance proved temporary as broader market turbulence pushed the token down to $0.6394. Despite recovering slightly to $0.6418, Cardano remains down 3.71% over the past 24 hours and has declined 20.30% across the last month.
Historical patterns suggest November strength
Community member Tyler Burke highlighted Cardano’s historical performance during November. The token posted a 216% surge in November 2024, coinciding with Donald Trump’s re-election. Burke urged the community to prepare for an approaching rally, stating that upward price movement appears imminent for ADA.
Solana currently occupies the sixth position in global crypto rankings, a spot Cardano previously held. Following an extended market downturn, ADA has slipped to tenth position. The token maintains a market valuation of $23 billion while trading at $0.6418 per unit.
Solana sits higher with a market capitalization of $106.8 billion as each SOL trades around $194.28. The disparity between the two networks illustrates the distance Cardano must cover to reclaim its former ranking.
Price targets based on market cap calculations
For Cardano to surpass Solana in rankings, its market cap must rise above Solana’s current valuation. ADA would need to reach at least $107 billion in market capitalization, representing a 365.21% increase from present levels.
This calculation assumes Solana’s market cap remains below $107 billion, an unlikely scenario given Solana’s current performance and expanding adoption across various sectors. As Solana continues attracting users and applications, its valuation will likely advance alongside Cardano’s potential gains.
Given Cardano’s circulating supply of 35.85 billion tokens, a market cap of $107 billion translates to a unit price of $2.985 per ADA. This target would still fall 4.02% short of Cardano’s all-time high of $3.10 reached in September 2021.
The mathematical requirements for Cardano to overtake Solana demonstrate the challenge facing ADA holders. The token must not only execute a 365% rally but also maintain that valuation while Solana continues its own growth trajectory.
Source: https://thenewscrypto.com/will-cardano-flip-solana-heres-what-needs-to-happen/
