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Stellar (XLM) may take over the Ripple’s XRP place in the market dominance

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XLM Ripple XRP

Stellar (XLM) and Ripple (XRP) are compared very often because of the solutions they offer in the crypto world. In fact, both companies envision to conquer the financial world by offering the best solutions for cross-border transactions, specifically speaking regarding costs and speed.

Like this, the XRP/XLM dilemma has been a common topic in the crypto sector for a long period now, and as it seems, it may be concluded very soon as Ripple continues to struggle with both the lawsuits and the ‘security’ issues, and this may give the perfect spot for XLM to shine and show the world how ready is their platform.

XLM and XRP comparison

At the time of writing XRP trades at a price of $0.32832 according to Coinmarketcap, and the same way XLM trades at $0.21874. Both cryptocurrencies appear in the green with increases of 1.16% in the case of XRP, and 3.39% if you talk about XLM. However, it is XLM the one that has had the biggest increase considering the jump in the price that Bitcoin had last Monday, the same that shot the price of certain coins in the market, being XLM one of them.

In contrast to the mentioned above, it is notable that is not a matter of price anymore. In fact, Ripple has had the toughest times in the last couple of months by facing several lawsuits in which it is claimed that the XRP token should be treated as a security, and on the other hand, by having the Securities and Exchange Commission (SEC) chasing after them with great possibilities of declaring the cryptocurrency as a security, and not as a digital asset.

With relation to this, Ripple has made great efforts to dispel the rumors, but truth be told, it doesn’t seem to be working that good. It all started with the differentiation between the company and the token, so now we have two different terms which are Ripple Labs (the company), and XRP (the token).

That was later followed by a special rule that disables Ripple Labs to control what happens with the XRP token, so with that centralization was off the table. However, the assumptions persist; and that is precisely one of the things that have helped XLM to come out to light.

Coinbase considering XLM as their next crypto

We all know how Ripple has been fighting to get the right to appear listed in the acclaimed exchange Coinbase, but sadly this is something very unlikely to occur unless Ripple solves the lawsuits and the centralization problems quickly. In contrast to that, it was known that Coinbase is actually considering XLM as their next crypto accepted, and this may actually occur once Stellar releases its promising project, the blockchain 3.0.

As for the price, we can all speculate that XLM might hit the moon, but the most important thing is that the token will finally get the validation that it deserves. So the way to go XLM! Oh, and sorry XRP… Keep trying! But yeah, if Ripple somehow manages to tackle the discussed issues, Stellar (XLM) might not be able to come close to it (Ripple’s XRP is a cryptocurrency with massive potential if you put its problems aside).

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Alex Holyoake on Unsplash

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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