Stellar (XLM) Vying For Top 4 Coin Market Cap Over Weakened Bitcoin Cash (BCH) Post-Fork Performance
Stellar (XLM) Beats Bitcoin Cash (BCH) And Has Best Performance Around Top 10 Cryptos
Even with the bear market being so strong right now and the whole market slowly sliding down month after month in 2018, there are some clear winners and losers in this year. Among the biggest losers, we can certainly count Ethereum (ETH), which lost a lot of its price this year, but no one in the top 10 lost more than Bitcoin Cash (BCH) or won more than Stellar Lumens (XLM).
Stellar is currently the most resilient token during the “bloodbath” that is happening right now. The token, which was not so famous last year, has jumped a lot in the rankings this year and now it was even able to dethrone Bitcoin Cash, which has been facing bad times since its fork and lost more than half of its value.
The Best Performance
Recently, Bitcoin was up 5% at the time of this report. This dragged the rest of the altcoins upward. However, Bitcoin was not the biggest winner, Stellar was. The token, which is Ripple’s XRP main competitor, was up 7.43% in the last 24 hours. Other tokens were up 5.2% (BSV) and Cardano (ADA) was only up 4.25%. All the other in the top 10 cryptos were way worse.
Bitcoin Cash (BCH) is set to lose its place because the fork was a complete disaster. While people had some faith in BCH before it happened after it was clear how much of a mess BCH was and most people just abandoned the shipwrecking token.
Stellar now is a serious competitor to remain in the 4th place for more time as Bitcoin Cash is on clear trend down. At the moment of this report, Bitcoin Cash ABC (the version is more likely to be considered the real Bitcoin Cash) was 11 million USD behind Stellar in the market cap.
While the difference is still very small, if the trend continues, Bitcoin Cash will lose its place for good as the gap will widen. Without the hard fork and the existence of Bitcoin SV, Stellar would probably be behind.
Bitcoin SV, created by the fork, is now the 9th token by market capitalization and it took Cardano (ADA) away from the top 10 but the clear trend of BCH SV is down.
A Stellar Run
Despite the fact that the biggest guilty from BCH going down is, well, from the BCH community itself and the fact that it was unable to remain united, Stellar had what could be called a really great run this year. The coin came out of the nowhere and, after Coinbase announced that it would support it, its price exploded even amidst the bear market.
If we got a survivor in 2018, it's Stellar. Not only the token survived, but it was also able to take the place of many other tokens while it remained steady and they sharply declined.
The product being offered by Stellar is still certainly in its early phases, but people are already pretty hyped about Stellar and all that it can offer. There are no guarantees that the prices will remain high, though, as many tokens have reversed their rallies and Stellar still has to find more clients to what it is offering.
Some people have affirmed, however, that Stellar may well be benefited from being paired against many stablecoins in Binance, which could help to maintain its position.