The cryptocurrency market’s wild November roller coaster ride has resulted in multiple changes in the top crypto roster. The latest upset? Stellar Lumens (XLM) has unseated Bitcoin Cash as the #4 cryptocurrency by market cap.
Stellar Overtakes Bitcoin Cash
While beleaguered Bitcoin Cash and Bitcoin SV continue to duke it out behind the scenes, Stellar Lumens (XLM) has managed to slip past BCH to claim the #4 cryptocurrency spot. According to CoinMarketCap, XLM’s current market cap sits at around $3.01 billion – surpassing that of Bitcoin Cash by a margin of just $20 million.
Bitcoin Cash has seen its market cap slashed by more than 60% since the November 15 hard fork – from $7.78 billion down to $2.99 billion. This is no doubt due to the one-two punch of the community split between Bitcoin ABC (Bitcoin Cash) and Bitcoin SV (BSV) and the market crash that resulted in a total crypto market cap loss of more than $40 billion in less than 24 hours.
Despite Stellar’s tenuous hold on the #4 spot, XLM – like nearly all cryptocurrencies – remains in the red at press time. Coming off of a 3-day gain of more than 23% – from $0.138 to $0.170 – between November 27th and 20th, XLM price has since dropped to $0.158 – a loss of roughly 7%.
Other Cryptos Jockeying for Position
Stellar isn’t the only cryptocurrency to have ousted top position holders in November. Earlier this month, Ripple’s XRP surprised everyone by leapfrogging past the previously-entrenched Ethereum (ETH) to claim the #3 spot. While XRP has temporarily topped Ethereum in the past, the lead has always been shortlived. This time may prove different, however, as XRP has maintained a fairly stable $2 – $3 billion lead over Ethereum for more than ten days. With so many ICOs liquidating their ETH holdings right now, that doesn’t look to change anytime soon.
If the crypto community was surprised by the respective coups of Stellar and XRP, they were positively flabbergasted by Bitcoin SV’s (BSV) debut on CoinMarketCap. Not only did Bitcoin SV get listed on CoinMarketCap within two weeks of the hard fork, but it debuted in the #8 spot – and climbed to #7 in less than two hours! Since then, it has fallen off a bit but is still holding steady as the #9 cryptocurrency by market cap.
Do you think that Stellar will be able to hold on to the #4 spot? Let us know in the comments below.
Images courtesy of Shutterstock, CoinMarketCap