Stellar (XLM) has swiftly become the focal point of interest in the cryptocurrency scene due to its striking performance. Over the past week, XLM advanced by an impressive 63%, markedly overshadowing the gains of Ripple-linked XRP, which saw a 39% rise despite its own robust rally. While XRP neared its 2018 landmark of $3.65, XLM’s accelerating momentum and a market value reaching approximately $15.6 billion have pivoted the attention of market participants toward this altcoin.
Who are the Top Weekly Gainers in Crypto?
In the ranking of the top 100 cryptocurrencies on CoinMarketCap, XLM achieved the highest weekly progress with a 63% increase. Although XRP strengthened with a 39% ascent during the same timeframe, it couldn’t catch up with XLM’s formidable pace.
Noteworthy altcoins like Bonk (BONK), which rose by 52%, and Pudgy Penguins (PENGU), seeing a 45% increase, trailed behind XLM. Additionally, Hedera (HBAR) and Algorand (ALGO) attained over 40% growth, nudging XRP out of the top five cryptocurrencies in terms of weekly gains.
What Might Propel XLM Back to the Top 10?
XLM’s burgeoning market capitalization has reignited conversations about its possible re-entry into the world’s ten largest cryptocurrencies. For XLM to overtake Tron (TRX) and Cardano (ADA) and reclaim its top 10 status—last seen in early 2021—it would need to double its current value.
XLM’s genesis is closely tied to Ripple, as it was co-founded by Ripple’s former chief technology officer, Jed McCaleb. This shared lineage prompts investors to evaluate XLM and XRP as companion cryptocurrencies.
Despite Ripple CTO David Schwartz not being able to pinpoint the factors driving XLM’s current valuation, the intertwined history with XRP influences market perspectives, seeing both altcoins enjoy notable market activity.
Some concrete points to note include:
- XLM’s weekly growth at an astounding 63%, significantly overtaking XRP’s 39% rise.
- Other altcoins like BONK, PENGU, HBAR, and ALGO also showed substantial weekly figures.
- For XLM to enter the top 10, it needs to surpass names like TRX and ADA by doubling its current worth.
As both XLM and XRP continue to evolve within the rapidly fluctuating crypto landscape, their intertwined past and shared milestones garner ongoing interest from market watchers, making their progression a captivating narrative to follow.
