TRON’s market cap gains could push Toncoin out of the top 10

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Toncoin (TON) risks leaving top 10 crypto assets amid TRON (TRX) surge. According to data from CoinMarketCap, TON’s market capitalization has fallen below $13 billion in the past three days, while TRON’s has risen to over $14 billion.

TON lost its market cap position to TRON due to a recent price correction following the arrest of Telegram co-founder and CEO Pavel Durov. Toncoin price has fallen 18% over the past 30 days, hitting a low of $5.11 on Tuesday, after a network outage added bearish momentum to its price action.

TRON’s price, on the other hand, rose 16% over the same period, partly due to the introduction of SunPump, a new meme token generator by Tron founder Justin Sun.

Tron’s recently launched SunPump quickly gained traction, surpassing Solana’s established platform Pump.fun in daily revenue. As reported by Crypto Briefing, SunPump generated $567,000 from 7,531 memecoins released last Wednesday, surpassing Pump.fun’s $368,000 from 6,941 tokens.

Data from IntoTheBlock also shows a decrease in the flow of large holders for Toncoin, which tracks wallets that hold more than 1% of the circulating supply. This suggests a cautious attitude by major investors, potentially indicating further declines.

As of August 28, Toncoin ranks 10th with a market cap of $13.5 billion, closely followed by Cardano with around $13 billion. Previously, TRON overtook Cardano in market capitalization, knocking it out of the top 10.

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