The horrific market dip was set to bring almost the entire crypto market down on November 15th as some of the major cryptos like Bitcoin and Ethereum even touched new lows.
However, Stellar alongside XRP is still able to acquire gains even though the market is still dictating a bearish sentiment.
Stellar XLM community is addressing the market dip, inviting the cryptoverse to switch their investments to XLM. And for a good reason, since XLM is seen in a substantial rise for days now although the bearish trends are strong.
Still ranked as the top 5th cryptocurrency to where it came back in October when XLM got past EOS (EOS) by a more dominant market capitalization.
Now that the market appears to be collapsing in what seems to be a prolonged market dip with toppers like Bitcoin Cash going down, what is next for Stellar Lumens (XLM)?
Can Stellar become the fourth-largest cryptocurrency?
Stellar and XRP Dominating the Market Despite the Dips
The bearish trends are dominating the market for months now, however, as of the latest case on November 15th when all major cryptos started to dip; the negative trends are becoming more obvious.
Still, there are some cryptos that seem to be able to withstand the market trends and provide the needed resistance.
XRP and Stellar XLM seem to be some of the rare cryptocurrencies to be showing some extraordinary movement in the market even in the middle of the declining prices.
That is how even today when all major digital assets are struggling to collect some gains, XLM is going up by nearly 4% in less than 24 hours.
Ripple’s XRP managed to take the spot of the second largest crypto several days ago when it surpassed the market capitalization of Ethereum and push ETH down to the third spot, so many are wondering can XLM do the same with Bitcoin Cash.
Bitcoin Cash is seen in a horrific decline with an accelerated rate of going down with the negative market trends.
The losses that BCH is suffering from are probably intensified due to the fact that the main network of Bitcoin Cash is splitting in two.
The chain is now divided in two as Bitcoin ABC and Bitcoin SV, the two teams who used to work together on Bitcoin Cash decided to split due to major disagreements, which is consequently killing the price of the fourth largest crypto.
However, although BCH is misfortunately dropping, XLM can seize the opportunity of climbing one spot up the top trading list.
Can Stellar XLM Get Past Bitcoin Cash and Become the 4th-Largest Crypto?
We could see XRP taking the second spot on the cost of ETH’s demise as Ethereum touched a new low by dipping way below the initial price of 200$.
In this case, XRP was easily able to get back to the value of 0.50$ having the opportunity for going below the initial price as well, judging by the latest performance of Ripple’s currency.
It is speculated that Stellar could do the same with Bitcoin Cash, as implied by the team representatives as well.
BCH is losing a lot of value dropping way below 400$ and losing -30% in the course of a week, still seen in what appears to be a decline now beyond repair.
In the meanwhile Stellar got listed on Bithumb and it is getting accepted as a payment on Stroopay with zero fees, additionally waiting for the Coinbase listing to become official.
Bitcoin Cash is currently set at 6.7 billion dollars in its market capitalization, while Stellar counts 4.8 billion in market cap. Although it may appear as a major difference, at the rate of growth that XLM had adopted, Stellar could soon get past BCH.
That is how we could soon see Stellar ranked as the fourth-largest crypto even though XLM is also showing a negative return of -3% against the fiat for the week.
In addition, XLM is almost 600% up on its YTD charts, also showcasing positive returns on daily, weekly and monthly charts, set to touch new heights and gain a proper friction as it is heading for a major rebound.