Stellar Lumens [XLM] dethrones EOS; becomes fifth-largest cryptocurrency

Stellar Lumens has been on a roll recently, and now, has overtaken EOS to become the fifth-largest cryptocurrency in the world in terms of market cap. The trade volume shows that high volatility is playing a crucial role in the XLM market. The trading volume of XLM is holding at $113.4 million, which is a whopping 99.51% increase in a seven-day time frame.

The market cap of XLM crossed the $5 billion line and peaked at $5.39 billion. The market cap faced a correction and reached $5.23 billion later. XLM is currently holding a strong market cap of $5.23 billion after overtaking EOS, while EOS’ market cap has fallen below the $5 billion line to reach about $4.88 billion.

Source: CoinMarketCap

XLM is currently undergoing a 3.3% hike in price in the past 24 hours, while the price of XLM reached a new high within the seven-day range at $0.2835. The prices have slumped since and reached $0.2766.

The announcement of XLM’s air-drop in partnership with Blockchain company has raised a lot of eyebrows as it could be the biggest air-drop in the crypto-space and as per the announcements, the air-drop in total is worth $125 million.

The trading volume of EOS is well above that of XLM at an excess of $666.01 million.

EOS was in the spotlight a few weeks back due to the research published by Whiteblock which claimed that the EOS is nothing more than a cloud service. The research which was commissioned by ConsenSys to Whiteblock further claims that EOS lacks the most basic feature of the blockchain, “immutability”.

The only respite that the EOS community can find is from the new stablecoin ‘CarbonUSD’ that was launched on the EOS platform. The bad news seems to find its way back to EOS as there was a fake app on Google Playstore that claimed to be developed EOS RIO. However, EOS developers in Brazil [EOS RIO] released a statement which stated that the official app is yet to be developed.

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