Stellar Lumens Becomes The Fourth Largest Cryptocurrency Overtaking Bitcoin Cash
Bitcoin Cash (BCH) did not have a good week, and it might not even recover from this situation. Stellar Lumens (XLM) has just surpassed Bitcoin Cash as the fourth largest virtual currency in the market. Back on November 19, Bitcoin was traded under $5,000 and it has affected the whole cryptocurrency market.
According to CoinMarketCap, Stellar Lumens has been one of the best performing virtual currencies in the last seven days. When most of the top 50 cryptocurrencies are registering losses of over 25%-30%, Stellar Lumens is losing 24%. XRP is the best performing cryptocurrency in the last week losing only 12%.
At the time of writing, Stellar Lumens has a market capitalization of $3.86 billion dollars and each XLM coin can be purchased for $0.20 dollars. At the same time, Bitcoin Cash has a market capitalization of $3.73 billion dollars and each BCH coin can be purchased for $213 dollars. In the last 24 hours, Bitcoin Cash lost more than 41% of its price.
In order to avoid confusion, CoinMarketCap took the decision to merge the market capitalization of Bitcoin Cash and Bitcoin Cash ABC, one of the implementations that emerged after the network upgrade from November 15.
During the last months, cryptocurrencies experienced very stable prices. Bitcoin reached the lowest volatility in almost a year. However, things changed since the beginning of November when Bitcoin Cash started to grow before the network upgrade.
At the same time, during the last week, XRP was also able to surpass Ethereum (ETH) as the second largest virtual currency in the market after Bitcoin. XRP has a market capitalization of $18.22 billion dollars and Ethereum $13.96 billion dollars. Bitcoin, instead, remains as the largest market cap digital asset with almost $80 billion dollars.
Stellar Lumens is growing in the market with different partnerships and projects all over the world. One of the most important companies working with the Stellar platform is IBM, which is developing different projects alongside Stellar.