As we all are well versed with the prevailing situation of Bitcoin that how tough it was to break the $7000 USD barrier, similarly many other coins also witnessed their prices going up.
Bitcoin saw a rise of about 10% whereas Stellar, the only printed cryptocurrency, on the other hand, witnessed the rise of 30%. Stellar with its all effort tried to ranked 6th position in the list of crypto coins by leaving its past competitors ‘Litecoin’ behind.
The moment it was declared and the results were marked on coinmarketcap, soon a debate started whether Stellar has the ability to be called as a cryptocurrency. the discussion gained popularity when the founder of Litecoin, Charlie Lee twitted on its account half taunting that “It really doesn’t make any sense to compare market caps of coins that are printed because they have an inflated market cap.”
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
Litecoin is presently managing a capitalization of $4.8 billion whereas Stellar is comfortably sitting on the 6th position of coin’s list having a market capitalization of around $5.4 billion. This clearly reflects the huge difference, granting Stellar to surpass Litecoin. Moreover, looking at its hike which shows a rose from $0.2837 is a great achievement.
However, Lee along with many scholars in cryptocurrencies world believes that these digital coins are not fit to sit in these positions as that of exactly decentralized mineable coins. They also pointed out that listing of these different types of coins indicates that there is a flaw in the system of the ranking coin market cap.
Lee showing his arrogance and discontentment with coin market cap uploaded the coin list by removing the different types of species and marking Litecoin at his 4th position which was earlier listed, behind Bitcoin Cash and Ethereum.
Let me make you clear that the biggest difference between Stellar and Litecoin is that Litecoin is ‘mineable’ and when it is placed along with digital currencies they actually lack advantage as ‘printed’ cryptocurrencies market capitalization are not inflated. When a wide range of coins are considered they should not be marked along with these tokens, it may hamper their value.
However, regardless of all the fact it must be noted and appreciated that Stellar, a printed cryptocurrency has positioned itself as the world’s 4th largest cryptocurrency in terms of market capitalization.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.