XLM re-enters top-10 coins by market cap after surging nearly 30%

Altcoins

Stellar Lumens (XLM) is now the ninth-largest cryptocurrency by market capitalization, overtaking Chainlink (LINK) and Binance Coin (BNB), according to data from major crypto tracking website CoinGecko

At publishing time, Stellar’s market cap amounts to $6.6 billion, while LINK and BNB’s market caps stand at $6.1 billion and $5.8 billion, respectively.

Top-10 cryptocurrencies by market cap chart. Source: CoinGecko

Stellar’s return to the top-10 list comes amid XLM’s recent parabolic surge of 80% over the past seven days, according to Cointelegraph’s Stellar price index. At publishing time, XLM is trading at $0.302, up 27% over the past 24 hours.

XLM also posted some major growth over the past year. According to CoinGecko data, Stellar posted year-to-date returns of over 500%.

As Cointelegraph previously reported, Stellar recently won the battle of blockchain payment networks against Ripple amid a major sentiment reversal. This came shortly after the Stellar Development Foundation inked an agreement with the Ukrainian government on Jan. 4, 2021 to collaborate on a new digital asset ecosystem including a central bank digital currency. The partnership immediately fueled massive XLM growth, resulting in 30% daily gains on Jan. 5.

Despite its ongoing rally, Stellar is still far from its all-time high of $0.78 on Jan. 3, 2018.

Products You May Like

Articles You May Like

Old-school photographers grapple with NFTs: New world, new rules
Bitcoin gives ‘encouraging signs’ — Watch these BTC price levels next
BIS compares projects to transfer central bank digital currencies across borders
BTC price recovers to 3-day highs as new whale support forms at $19.2K
BIS: 90% of Central Banks are researching the utility of CBDCs

Leave a Reply

Your email address will not be published.