The crypto markets showed some recovery this week. At the time of writing, however, it seemed to be easing again, at least with regard to the altcoins.
Despite this, the crypto currency Stellar has raised its market capitalization to $ 5 billion as part of the rally. It overtook Litecoin (market capitalization: $ 4.5 billion). As a result, Stellar now occupies sixth place of the largest cryptocurrencies by market capitalization.
The creator of Litecoin, Charlie Lee, wrote on Twitter:
“Congratulations to Stellar for overhauling the market capitalization of Litecoin. Regardless, it is nonsense to compare the market capitalization of “printed” coins. Their market capitalization is inflationary. Maybe I'm old-fashioned, but I'm only interested in decentralized coins that can be minted. “
Lee assumes that market capitalization is not the most accurate measure of cryptocurrency ranking. That is because it does not include decentralization or the way in which it is created. In Lee's opinion, “digital tokens” such as Ripple and Stellar should not be listed in the same category as minable proof-of-work cryptocurrencies, such as Litecoin and Bitcoin.
Lee also released an alternative ranking of minable coins. It was led by Bitcoin and Ethereum took second place, while Bitcoin Cash came in third. Fourth place went to Litecoin, followed by Monero in fifth. Sixth place was the crypto currency Dash. This was followed by Ethereum Classic, Zcash, Decred and Bytecoin.
Market capitalization has always been a sensitive issue. A well-known example is the coin “Bitconnect”. At that time it quickly rose through all ranks, only to crash completely. The reason was that it turned out that the coin was basically a scam.
Stellar stands firm
Stellar has made great progress lately. Last month, the company signed a $ 500 million contract (in-house cryptocurrency XLM) to acquire Blockchain Start-up Chain. In addition, Stellar Lumens is on the list of candidates that the crypto-exchange Coinbase is currently examining for listing.
It should also be remembered that Stellar Lumens (XLM) has already made an impressive flight (and crash). This occurred when the crypto market exceeded $ 800 billion in total market capitalization at the end of last year. At the time, Stellar's capitalization shot up from half a billion dollars to 15 billion dollars – in just one month. In this light, the name of the company “Stellar”, which means something like the prefix “star” or “outstanding”, seems all the more relevant.
Sources: CoinMarketCap, Twitter, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/stellar-lumens-xlm-in-aufstieg-litecoin-ueberholt-und-jetzt-schstgroessten-kryptowaehrung/
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