tl;dr
Chainlink (LINK) has surpassed Stellar (XLM) in market cap rankings, reentering the top 10 list of most capitalized coins. In the past 24 hours, Chainlink saw a 1.59% increase to $18.07, while XLM jumped 3.30% to $0.3421. Chainlink's market cap is now $11.54 billion, exceeding XLM's $10.48 billion. ...
Chainlink (LINK) has surpassed Stellar (XLM) in market cap rankings, reentering the top 10 list of most capitalized coins. In the past 24 hours, Chainlink saw a 1.59% increase to $18.07, while XLM jumped 3.30% to $0.3421. Chainlink's market cap is now $11.54 billion, exceeding XLM's $10.48 billion. Despite Link whales showing high activity, XLM's intensity in recovery may lead to a change in ranking soon.
The stability of the market remains uncertain, but with Bitcoin's recovery and signs of ambitious rallies, the altcoin season seems far from over. The altcoin recovery in the broader digital currency ecosystem is underway, and Chainlink (LINK) is riding the train high. Over the past 24 hours, Chainlink has flipped Stellar (XLM) in market cap rankings to reenter the top 10 list of the most capitalized coins.
According to market data in the past 24 hours, Stellar has surprisingly outperformed Chainlink. While LINK traded up 1.59% to $18.07, XLM jumped 3.30% to $0.3421. However, as seen on the charts, Chainlink had a more positive price rally in the first few hours over the past day to push it above Stellar.
The quest for dominance between both altcoins is not unusual, as the market showcases volatility. Amid the trend, Chainlink now boasts a market cap of $11.54 billion against the XLM figure of $10.48 billion. With LINK whales displaying the highest activity level in recent times, staging a sustained growth pace may be possible in the short term. However, with the intensity of the XLM recovery, this toppled ranking may change very soon. With both altcoins having their respective ecosystem fundamentals, market observers are watching what will unfold next.
Earlier in the week, U.Today reported that Chainlink dropped by over 40%, setting the stage for the unexpected flipping of XLM. However, with the bulls returning, whether most altcoins have recorded their short-term price floors remains unknown.
Bitcoin fueled the drawdown on the broader market when it dropped to the $93,000 range from earlier in the week. However, Bitcoin has also staged a sharp recovery, trading at $97,224.19, up 1.08% in 24 hours. Despite minor headwinds like the tariff war among global economies, the signs of more ambitious rallies suggest the altcoin season is far from over. With most coins showcasing a strong correlation with BTC, the rebound trend might hold for much longer.