Cardano (ADA) is in the number 8 spot according to coinmarketcap.com. Stellar (XLM) is in the 7th and Litecoin (LTC) in the 6th. The difference in market capitalization between ADA and XLM at the moment of writing this is $135 Million. The difference in market capitalization between ADA and LTC is $1.643 Billion. It is with this figures that it is possible for ADA to edge out both coins in the markets and make it to the number 6 spot as shall be explained.
So how will ADA edge out XLM?
Well, with regards to Stellar (XLM) not much news or announcements have been made lately other than both IBM and KIN wanting to use its blockchain to tokenizing their projects. IBM wants to utilize the Stellar blockchain to help track carbon credits in the global arena. KIN, on the other hand, wants to fork from Stellar and create a hybrid solution with Ethereum, to provide a long-term solution for the project. XLM, through the past, has not been seen to show knee-jerk reactions to the major news.
What about Litecoin (LTC)?
Litecoin has been having a hard time recovering from the failed launch of Litepay back in March. Everyone in the crypto-verse had then predicted doom for the coin that is an offshoot of Bitcoin. What has since happened, is that Litecoin has been chosen by Abra as a choice for implementing smart contracts and has recently been listed on its app. But this might not be enough to keep it at the top 6 as EOS has already edged out LTC from the number 5 spot due to EOS’ MainNet launch.
So why is Cardano (ADA) better placed at edging out these two coins?
To begin with, the Shelly protocol is live and registering users to test it out as it aims to decentralize the Cardano network. The team at ADA is also working on smart contracts that would be much better and secure than Ethereum’s. Once these two properties are activated, it is a moon landing for ADA.
Secondly, the project has had some great reviews online with an accompanying strong community to back up the project. The project has three telegram groups with a total of around 26,000 members: the largest of this group having 20,000 members.
Third but not least, ADA would only have to be valued at $0.257 to edge out Litecoin using current market cap figures. This is indeed very possible for the small coin that packs a punch in terms of technical advancements in blockchain technology, and the hope it brings with it to the crypto-verse.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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