A lot of movement has happened on the crypto ranking charts since the volatility has returned to crypto markets. First, it was Ethereum that was dethroned by XRP for second place, then Bitcoin (SV) moved above Tether to eighth place for sometime before settling back to ninth. And now it’s Stellar that has pushed Bitcoin Cash to down to gain the fourth spot.
Stellar Lumens has enough positives that could keep it at fourth place
At the time of writing this article, Stellar Lumens was at the fourth position with a market cap of 3.192 billion a little over BCH ‘s market cap of 3.122 billion. The price was USD 0.166 and was in the green by over 3%
In the carnage which bought back volatility to cryptos, Stellar lumens (XLM) prices too took a hit, however, the quantum of the fall for Stellar was far less as compared to EOS and Bitcoin Cash (BCH).
Also, Over the past two weeks, Stellar did have some amazing fundamental news flow which helped it climb the ranking charts
Recently, the Malaysian exchange PinkExc decided to move from Ethereum blockchain to Stellar (XLM) blockchain technology. The exchange wanted to use the Stellar blockchain technology because it meets their need for a faster, cheaper and more reliable asset value transaction token.
Also this week, Stellar Development Foundation revealed that it is currently in the final phases of preparing the release of their own decentralized trading platform (SDEX).
November 2018 has also seen Stellar Lumens being listed on few new exchanges. These include Bithumb, Coindelta and BitOasis which has taken Stellar to newer investors on these exchanges.
With third place Ethereum’s market cap almost 9 billion away from the fourth place Stellar and not much positive happening for Bitcoin Cash right way, It looks like Stellar has almost secured its position at the fourth place in the list of cryptocurrencies by market cap.
Will Stellar continue to remain at the fourth place or will BCH again take over? Do let us know your views on the same.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.