Another day heralds more doom and gloom for the majority of cryptocurrencies, including the top ones. Markets have been hammered over 15% on the day losing in excess of $20 billion since yesterday but not all digital currencies are suffering the same level of pain.
A Case For Stellar Lumens
Both Ethereum and Bitcoin Cash have had their market caps slashed and have consequently fallen down the rankings. BCH so much so, that Stellar has taken fourth place just days after knocking EOS off fifth. The Bitcoin Cash hash fracas that dominated the crypto-sphere leading up to the hard fork last week has cost billions. As a result BCH has crashed almost 45% on the day dropping it to unmatched lows below $200, however stats taken from Coinmarketcap come with this caveat;
“In order to reflect the current market, we have merged our Bitcoin Cash (BCH) and Bitcoin Cash ABC (BCHABC) listings. We have observed that a majority of exchanges are using the Bitcoin Cash (BCH) to refer to the Bitcoin Cash ABC implementation.”
On Coinbase, BCH is priced at around $250 at the time of writing which is still down way over 50% on the week.
Meanwhile XLM has weathered this storm and actually made a gain of over 14% since mid-September. Today’s loss of around 16% still leaves Stellar level with the mid-October low. The three month chart for this altcoin has generally been up-trending while the majority of others have gone the opposite way.
Stellar currently has a market cap of $3.5 billion; almost double that of Litecoin, and more than enough to usurp both EOS and Bitcoin Cash in the same week. The future is bright for Lumens.
XRP Steady As The Storm Rages
The other fintech crypto, and one that has very close ties to Stellar, is XRP which has also survived the crypto avalanche. Now over $4 billion ahead of Ethereum in terms of market cap, Ripple’s XRP token has cemented itself as the second largest cryptocurrency in the world. With Bitcoin’s tumble it is closing the gap and has made up $15 billion since yesterday when the two were much further apart.
XRP has fallen back 5% or so today but nearly every other digital coin has hemorrhaged double digits. In the past three months XRP has gained almost 50%, and just like XLM it is still level since this time last month. In less than a week XRP has recovered while all those around it have crumbled by greater amounts.
The only two sole survivors of the bleeding market right now, aside from stablecoins, are XRP and XLM which is a strong sign that these two have a long way to go.
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