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It has been an interesting day for Stellar (XLM). Prices climbed over 6%, adding roughly $500 million to its market capitalization. And just like that, XLM now sits in 14th place on CoinMarketCap’s global cryptocurrency ranking, its market cap hitting $10.16 billion.
Meanwhile, Litecoin (LTC) has been on its own rally - up 23% in recent days, fueled by mounting anticipation of an exchange-traded fund. It makes sense.
Alex DovbnyaExperts at Bloomberg suggest Litecoin has the highest chance among all contenders to get ETF approval, pegging its odds at 90%. That is significant for sure. Yet, even with all that momentum, LTC is currently trailing XLM with a market cap of about $9.6 billion.
No one’s talking about an XLM ETF. Not yet, at least. XRP is a different story. But Stellar? No formal discussions, no visible push for a similar investment vehicle.
Still, the market seems to be factoring in something - maybe a future move, maybe confidence in what is happening behind the scenes. With Jed McCaleb steering the ship, investors might be seeing long-term potential beyond what is immediately obvious.
Tomiwabold OlajideFor now, Stellar's major move past Litecoin is raising some questions. Will XLM be able to hold onto its spot, or will Litecoin's excitement over its ETF be enough to push it back ahead?
At the end of the day, the market will decide. But one thing's for sure - these two assets are in a tight battle, and the next moves could shake up the rankings again.
Tomiwabold Olajide
Yuri Molchan
Dan Burgin
Vladislav Sopov