Stellar (XLM) Edges out Bitcoin Cash (BCH) from the Number 4 Spot on Coinmarketcap
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Users of Coinmarketcap.com have realized that the online platform has chosen to assign the original ticker of Bitcoin Cash (BCH) to the ABC camp in the ongoing Hash Wars. Other platforms such as Binance, have opted to distinguish between the two camps by assigning BCHABC and BCHSV respectively.
XLM Edges out BCH on Coinmarketcap
With the above background explaining which Bitcoin Cash is currently being tracked on Coinmarketcap.com, we can continue to state the observation that Stellar (XLM) has edged out BCH from the number 4 spot. A screenshot has been provided below for a better visualization of the situation.
Will XLM Hold On to the Number 4 Spot
Doing the math, only $16.34 Million in market capitalization separate the two prominent digital assets. This amount is significantly small given that today the markets have dropped tremendously in value. We have BTC at $4,383 and the total market capitalization at new low levels of $141.9 Billion.
What we can predict is the following two situations in the next few hours or days.
Firstly, XLM might maintain the number 4 spot based on the fact that the crypto market looks set for further decline into the weekend. When such events occur, XLM and XRP have proven to be least affected by the current market turmoil. Therefore, it is highly probable that Stellar (XLM) will maintain the number 4 spot into the weekend.
The second situation is where the market slightly recovers after the Thanksgiving holiday that was yesterday, the 22nd of November. One can argue that many traders who celebrate the holiday, were away from their trading monitors and more concerned with spending valuable time with their families than the price of BTC. Today being Friday, the traders might wake up and want to cash in on what Crypto Twitter has called the mother of all Black Friday Sales that is evident in the Crypto Markets. Every coin and token is between 70 and 90% discounted from their All Time High values.
What are your thoughts on Stellar (XLM) edging out Bitcoin Cash (BCH)? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.