Stellar Lumens (XLM) Gets Back to Being the 6th-top Currency
Although earlier this month Stellar seems to have easily taken the spot of the fifth-best currency in accordance with ranking on CoinMarketCap, the place that previously belonged to Bitcoin’s “little brother”, Litecoin (LTC) that was later on pushed out by the competitive EOS (EOS).
While Litecoin dropped severely, touching new lows in the second quarter of 2018, Stellar Lumens was seen spiking up while taking over the spot of the 5th-best currency.
However, the market dip did its magic and XLM was once again down to its previous position as the 6th-top crypto, currently acquiring a rebound of over 6% against the fiat.
Stellar Lumens and Facebook Meetings: Will the Talks Turn into a Solid Partnership?
Stellar Lumens is gaining serious momentum with the latest rumors going around the Facebook/Stellar meeting regarding the news from Facebook that went viral during the last week, on August 10th, stating that the social media giant has officially formed a board for researching the potential of blockchain technology.
The board’s lead is none other than David Marcus, the former president of PayPal while also having the role of Facebook’s vice president for messaging products. With Marcus’ experience in the field of finances, it is almost evident that Facebook will be integrating a blockchain-based service for Facebook, although the company’s representatives have yet to confirm in which direction will Facebook go regarding blockchain-based operations.
The partnership between Facebook and Stellar is some of the most talked-about cases in the cryptoverse; however, none of the companies has confirmed the alleged agreement, so any partnership between the two companies still remains only rumors.
However, Stellar’s involvement with IBM is anything but rumors, as IBM will be utilizing the Stellar network for the issuance and support of IBM’s first “stable coin”, while also bringing Veridium Labs to Stellar.
How Can Stellar Lumens (XLM) Get Back to Top 5 List?
With serious blockchain trends revolving around Stellar Lumens, it is no wonder that XLM made it to the top five list, although the crypto soon got back to its original spot as the 6th best coin in accordance with the market capitalization of over 4.3 billion dollars.
Stellar Lumens (XLM) is currently being traded at the price of 0.22$ per one unit, while the fifth-best currency EOS (EOS) got back to its previous ranking with the price of around 5.30$.
It is not the price per one cryptocurrency unit that counts, but the number of circulating coins in relation to the market capitalization of the given coin.
That means that Stellar could easily go pass EOS once again in case EOS remains at its current price and XLM spikes to 0.24$ per one unit, that way surpassing the market capitalization of around 4.7 billion dollars.
However, while Stellar Lumens is currently rising by around 6%, EOS is up by 12% in the latest rebound, binding Stellar to its current spot as the 6th best currency, at least for now.