Cardano Criticized as TON Surges into Top 10, ADA Lawyer Bill Morgan Flips on XRP

In a surprising turn of events, the cryptocurrency market recently witnessed the rise of TON, a lesser-known crypto, catapulting it into the top 10 rankings and overshadowing the well-known cryptocurrency Cardano. This unexpected surge has caught the attention of XRP advocate Bill Morgan, who has raised concerns about Cardano’s stability in the rankings.

TON experienced a remarkable surge of over 20% in the past day, propelling it to the 9th position in terms of market capitalization. Its market cap rose by 17.8% to reach $23.75 billion, surpassing Cardano, which currently stands at $21.74 billion.

Bill Morgan highlighted the shifting sentiment within the crypto space, noting that TON’s rise poses a direct challenge to Cardano’s standing. He pointed out that many people believed XRP would fall out of the top 10, but it is actually Cardano that is at a greater risk of slipping out of this coveted position, with AVAX closely trailing behind.

The rivalry between Cardano and XRP has been a topic of discussion within the crypto community, often leading to tensions between key figures. Earlier this year, Charles Hoskinson, the founder of Cardano, criticized the XRP community, accusing them of coordinated attacks against him. As the competition intensifies, the outcome remains uncertain, highlighting the dynamic nature of the cryptocurrency landscape.

In terms of price movements, TON surged by over 20% in the past 24 hours, trading at $6.78 with a market cap of $23.73 billion. On the other hand, Cardano saw a relatively modest increase of 1.02%, trading at $0.6022, with a market cap of around $21.52 billion. Meanwhile, XRP maintained stability, registering a slight uptick to $0.6078, with a market cap of $33.54 billion.

In other news, Defiance Investments has announced plans to launch a 2x Leveraged Ethereum Futures ETF, adding to the growing list of investment options in the cryptocurrency market.