AI Summary
- Stellar Lumens (XLM) has flipped Sui Network in market capitalization to become the 13th most popular cryptocurrency by ranking.
- Stellar Lumens has flipped Sui Network to become the 13th most popular cryptocurrency on the market.
- The token currently sits at a $14.5 billion market cap compared to Sui’s $13.8 billion.
- In January, Sui Network’s TVL (Total value locked) reached $2 billion, beating the TVLs of Avalanche, Polygon, Cardano, and Optimism. In late 2024, rumors about a potential collaboration between Stellar Lumens and Cardano grew as Charles Hoskinson and XLM founder Jed McCaleb confirmed that the two had spoken.
Stellar Lumens (XLM) has flipped Sui Network in market capitalization to become the 13th most popular cryptocurrency by ranking.
After Bitcoin’s recent bounce from lows of $90k on Monday, top altcoins surged with XLM maintaining an 11% gain.
As recent as November 2024, Stellar Development Foundation CEO Danelle Dixon spoke at a U.S. government hearing on crypto adoption.
Stellar Lumens flips Sui Network
Stellar Lumens has flipped Sui Network to become the 13th most popular cryptocurrency on the market. The token currently sits at a $14.5 billion market cap compared to Sui’s $13.8 billion.
In January, Sui Network’s TVL (Total value locked) reached $2 billion, beating the TVLs of Avalanche, Polygon, Cardano, and Optimism.
In late 2024, rumors about a potential collaboration between Stellar Lumens and Cardano grew as Charles Hoskinson and XLM founder Jed McCaleb confirmed that the two had spoken.
Hints about possible collaborative efforts increased once Jed McCaleb tweeted his thoughts on XLM’s robustness and what set Stellar Lumens apart from other cryptocurrencies, believing that the XLM token was an underdog in the wider crypto space.
From Jed McCaleb on X/Twitter:
“A lot of new people looking at Stellar so I thought I’d write down some quick thoughts about why Stellar is worth your time. IMHO Stellar is the most underrated and least understood crypto project.
People and businesses around the world are realizing this and I think Stellar has a very real chance of becoming a big part of the world’s financial infrastructure.”
Sui Network and its DeFi future
Since Sui Network’s launch, the team has prioritized decentralized financial services and dApps when compared to chains such as Cardano and Stellar Lumens.
With a $2 billion TVL, Sui network is home to a bustling meme coin scene, DeFi applications with strong use cases, and joined in a strategic partnership with Franklin Templeton, an asset management firm.
In December 2024, Sui Network was added to Arkham Intelligence, allowing DeFi traders to inspect and track decentralized transactions throughout the whole Sui blockchain.
Sui’s interest in growing a strong community-driven DeFi scene may allow its SUI token more room for growth and reach similar TVL to that of big DeFi networks such as Solana, despite recent setbacks such as network downtimes and being overtaken by XLM.
