On Monday, November 28, the cryptocurrency market saw a remarkable bull run that caused almost every single coin on the charts to shoot up. Bitcoin [BTC], XRP and Ethereum [ETH], the big three of the cryptocurrency market, were also blessed with double-digit growths.
The bull run also caused a major shift on the cryptocurrency charts as Monero [XMR] overtook Cardano [ADA] with a remarkable change in market cap.
At the time of writing, Monero was growing by a massive 17.97% with a total market cap of $1.047 billion. The cryptocurrency was trading for $62.12 with a 24-hour market volume of $20.072 million.
A majority of the cryptocurrency’s trade volume was held by Bithumb, on which XMR transactions worth $376.275 million took place. Bithumb was followed by Binance, which had a grasp on $3.077 million of the total Monero trade.
Cardano[ADA], now occupying the 11th position on the cryptocurrency charts, was also riding the bullish wave growing at 14.59%. ADA held a market cap of $1.036 billion with a 24- hour market volume of $29.189 million. ZBG held the majority trade volume for Cardano, encompassing $14.1 million of all Cardano trade.
Monero surpassing Cardano has caught the eye of the community as Cardano has been ahead for a long period of time. The disruption of cryptocurrencies on the chart started when Bitcoin SV entered the top ten club. Monero has captured headlines multiple times in the past, acting as a privacy coin that enables a lot of use cases.
Recently, Riccardo Spagni aka Fluffy Pony spoke about how Monero can be useful for a more privacy-oriented network. Spagni is a core team member and developer at Monero. He had said:
“The lack of privacy and so Monero will have made inroads already in places like Venezuela and in countries with oppressive regimes. And at that point even if Bitcoin has added privacy, it will not necessarily be an easy switch over for the people that are already in the ecosystem.”
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