It has been a tough battle among top altcoins in the last week as prices continued to decline. One of those that have been on the losing side is Cardano (ADA), which lost the 11th spot to Stellar (XLM) following a price dip.

Since then it has been at the 12th spot and still is. The issue is that it could not reclaim its spot despite a deal the company cut with AlgoZ, a liquidity solutions and trading services provider for crypto assets.

The Cardano community had expressed confidence that ADA would attain new highs after the collaboration with AlgoZ because of the customers the deal would potentially attract.

However, it seems the expected effect is not visible, at least not yet. ADA is currently bleeding like every other major altcoin, which causes one to wonder if it will bounce back by next week.

Cardano has been in a number of intriguing deals this year which would have been a major boost to the price of ADA. earlier, the Founder signed a deal with the Georgian government to boost education and other key government branches of its government. ADA, of course, was the native token to be used in the project.

The Mongolian Blockchain and Fintech Association also signed an MoU with Cardano to develop advanced technology for the country. This was intended to increase demand for ADA and then lead to a price surge consequently. It had also signed an agreement with the Ethiopian government to improve agriculture using the Cardano blockchain.

All these have not significantly reflected in the price of ADA, thus the struggle to stay on top of the crypto market cap table. The 13th largest cryptocurrency Monero (XMR) is currently one of the few alts in the green and if the current trend continues, ADA may end up going to the 13th position as XMR could take even the 12th spot. Next week could hold a better short term future for ADA though as analysts say it is one of the most promising alts in 2019.

The post Cardano (ADA) Fails to Reclaim the 11th Spot From Stellar (XLM) Despite Intriguing Developments appeared first on ZyCrypto.

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