Cryptocurrency Stellar has bypassed on capitalisation Litecoin and took 6th place in the CoinMarketCap list.
Over the past week, Stellar has grown by almost 30%. As of 16:30 Kiev/Moscow, the average rate XML $0,286087, and the capitalization of crypto – currencies – $5,37 billion, compared to $4,897 billion from Litecoin.
The Creator of Litecoin Charlie Lee congratulated Stellar on the new achievement on Twitter. However, he noted that still sees no point in comparing market capitalization “printed” coins, because they have it too high.
“Maybe I’m conservative, but I’m only interested in decentralized coins available for mining,” wrote Lee.
The Creator of Litecoin believes that market capitalization is not the most accurate metric for ranking cryptocurrency. So, it does not display the degree of decentralization, nor how the cryptocurrency was created. Moreover, the digital tokens, such as Ripple and Stellar, should not be included in the same category as available for mining coins like BTC and Litecoin.
He therefore issued an alternative rating that displays only mined cryptocurrencies. For this he used the appropriate filter on CoinMarketCap.
Congrats to Stellar on passing Litecoin”s marketcap. That said, it really doesn’t make sense to compare marketcaps of coins that are “printed”, b/c they have an inflated marketcap. Maybe I’m old school, but I only care about decentralized mineable coins.https://t.co/n6va1YWoiD pic.twitter.com/4IMJ7iqg3H
— Charlie Lee [LTC] (@SatoshiLite) July 20, 2018
Stellar Development Foundation, which operates a platform for Stellar, is a nonprofit organization with altruistic goals. In particular, the company wants to tackle poverty and to help people develop their potential through access to affordable financial services.
Recently Stellar has distinguished several achievements. So, this week it became the first project certified in accordance with the Sharia law. Moreover, this status was granted and the blockchain Stellar, and the tokens Lumens (XLM).
Last month the company agreed to buy financial blockchain startup Chain for $500 million in the XML. In addition, Stellar Lumens is one of those tokens that can appear in the listing Coinbase.