Stellar Surges Ahead of Shiba Inu in Market Cap – A Major Rally

Stellar (XLM) Overtakes Shiba Inu (SHIB) in Market Capitalization

In a remarkable turn of events, Stellar (XLM) has recently surpassed Shiba Inu (SHIB) in terms of market capitalization, according to a report by U.Today. This significant surge in Stellar's market value has captured the attention of cryptocurrency enthusiasts and investors alike.

XLM's Impressive Rally

As per data from CoinGecko, XLM's market capitalization now stands at a staggering $17.3 billion, reflecting a remarkable 190% increase over the past week alone. In the last three weeks, XLM has witnessed an astonishing 600% rise in its value, making it one of the hottest cryptocurrencies in the market.

Current Market Landscape

• XLM's market cap: $17.3 billion
• SHIB's market cap: $15.7 billion
• SHIB's price increase: 9%

Breaking into the Top 10

XLM is on the verge of breaking into the top 10 cryptocurrencies by market capitalization, an important milestone for this often-overlooked altcoin. Known for its unique technology and purpose, Stellar aims to facilitate cross-border transactions and improve financial access for underserved communities.

A Closer Look at Stellar

The native token of Stellar, XLM, was co-created by Ripple co-founder Jed McCaleb. The price movements of XLM often correspond with those of XRP, the digital asset associated with Ripple, indicating a strong relationship between the two tokens.

XRP's Concurrent Rally

This surge in XLM’s value comes in tandem with a recent rally in XRP, which reached a multi-year high of $1.6 following news about SEC Chair Gary Gensler's impending resignation. This announcement has generated significant momentum in the cryptocurrency market, driving prices upward.

Conclusion

The cryptocurrency market is witnessing dynamic shifts, and the recent performance of Stellar (XLM) serves as a pertinent example of how quickly fortunes can change. Investors should keep an eye on XLM as it continues its ascent, potentially positioning itself among the cryptocurrency elite.