Bitcoin cash has lost its position as the world’s fourth-largest cryptocurrency to Stellar lumens (XLM). As shown on CoinMarketCap, Stellar overtook bitcoin cash in the rankings of cryptocurrencies by market cap. Market capitalization is a way to ascertain the value of a cryptocurrency.
To find the market cap, multiply the price and circulating supply (Market Cap = Price X Circulating Supply). Bitcoin cash has lost over 9 % of its value in the last 24 hours. Bitcoin is also falling rapidly, moving towards the $4,000 mark.
Bitcoin cash could be heading out of the top five soon even with EOS closely lurking behind it. The asset after going through a nasty split with Bitcoin SV has lost more than half its value. Bitcoin cash is currently trading at $173—down from highs of $630 in early November. It now has a market cap of over $3 billion.
End of Hash War between Bitcoin Cash and Bitcoin SV
This crypto market has been full of drama in the month of November. The recent drop is one of worst in the (short) history of the market. Experts believe the Bitcoin cash fork and hash war between both had weighed on the current condition of the market.
Bitcoin SV, however, threw in the towel to win the hash war earlier this week. The heads at Bitcoin SV announced that they are no longer trying to unify the chains under the Bitcoin SV rules or fighting for the BCH ticker.
Stellar (XLM) has prided itself as a platform that is fast, low-cost and reliable for cross-border payments. Its direct competitor is Ripple (XRP), which is currently ranked in the second spot. Jed McCaleb, who’s the founder of Stellar, was also the co-founder of Ripple. At the launch of Stellar, the network had 100 billion XLM and currently has a circulating supply of19,154,499,589 XLM.
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