Stellar (XLM) holds tight to the 4th position: Tether (USDT) could dethrone XLM
|- Market capitalization recovers above $100 billion amid a general bullish trend.
- Stellar reclaims 4th position after being briefly dethroned by Tether.
The crypto market is enjoying a moment without declines in the wave if the drop on Friday last week. Most assets corrected lower exploring how deep the rabbit hole goes. Bitcoin, for example shuttered the support at $3,200 and lost $100 in less than an hour to form new 2018 lows at $3,100. The same trend was reflected with assets like Ethereum (ETH) and Bitcoin Cash which from lows of $82 and $73.35 respectively.
There is hope in the market on Monday 17 as the virtual assets make a recovery after refreshing the lows last week. However, the recovery is weak and the cryptos are still on the floor. Besides, the market capitalization is still quite low, although it has reclaimed the position above $100 billion to stand at $100.
The top twenty bracket is in the green at the moment when considering price change on the day. Some altcoins are correcting significantly higher compared to Bitcoin, XRP and Ethereum. Litecoin is the leader with gains more than 6% on the day, followed by Monero (XMR) which up 3.73%. Bitcoin Gold (BTC) has added 2.82% while Bitcoin Cash (BCH) is closely behind with gains of 2.07%. The slight bullish trend is reflected across the market.
Stellar (XLM), on the other hand, is trading at $0.0976, unlike other crypto assets correcting higher on the day, XLM seems to be stagnant. In fact, the leading stable coin, Tether briefly surpassed it in terms of market capitalization to claim the 4th position. Stellar has been able to recover a reclaim its 4th position in the market. It has market cap of $1.87 billion while Tether’s market cap stands at $1.86 billion. If Stellar fails to resume the uptrend, its position is under threat.
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