On the 18th of April, two days ago, we published an article speculating the saga of Cardano and Stellar, in, what seems to be a race for seventh place.
On the 18th, it did seem that indeed, Stellar was going to take the hotspot from Cardano as, at the time of writing, Cardano was down almost 2%, with Stellar, up almost 9%.
Many people pointed towards a company called Novatti Payments, who had recently announced plans to integrate Stellar within their payment systems. This, proved to give Stellar quite a kick, especially in terms of it’s value.
So, in traditional fashion, we are now following up the saga, as, it seems, the race is continuing.
In the first article, we compared the market capitalisations of both Cardano and Stellar, which stood with a difference of just $573,507,257. Today, at the time of writing, the gap between the currencies in terms of market cap stands at $298,800,644, proving that, as a result of a very good week, Stellar really is creeping up on Cardano.
How do the pair stand today?
Well, we did see some small bumps down for Cardano, which has obviously decelerated the distance we are seeing in market cap at the moment, with that in mind however, it does look like Cardano has reached a turning point and is on the climb. Perhaps suggesting this is merely a near miss for Cardano?
At the time of writing, Cardano stands at $0.27, up 5.38%.
Stellar, has ultimately seen a decrease in its ascent over the past few days of course, which again has hampered its ability to shoot past Cardano.
At the time of writing, Stellar stands at $0.37, up 4.78%.
As the markets are looking super healthy at the moment, we are expecting the two, to climb in unison. If we see another surge over the weekend, we should expect the values of the currencies to remain relative, in short, I can’t imagine any surge from Stellar would push it past Cardano suddenly. This is because generally, the surge will be advantageous to Cardano also.
How important is this?
Market cap isn’t the be all and end all, it would prove a point for Stellar but really, rushing past Cardano probably isn’t an objective for them at the moment. The big goal for the pair, is that they maintain their current values, with the hope to making bigger gains in the coming months, if the markets continue to behave as positively as they have been recently.
Overall, watching how the two currencies perform together will be important, as their values are so close, the camps behind both Cardano and Stellar may be considered as rivals. Investors, for the meantime, are safe to watch from the stands. Which will reign victorious? Really, who knows?