XLM re-enters top-10 coins by market cap after surging nearly 30%

Stellar Lumens saw major price action after the Stellar Development Foundation signed an agreement with the Ukrainian government.

Stellar Lumens (XLM) is now the ninth-largest cryptocurrency by market capitalization, overtaking Chainlink (LINK) and Binance Coin (BNB), according to data from major crypto tracking website CoinGecko. 

At publishing time, Stellar’s market cap amounts to $6.6 billion, while LINK and BNB’s market caps stand at $6.1 billion and $5.8 billion, respectively.

Stellar’s return to the top-10 list comes amid XLM’s recent parabolic surge of 80% over the past seven days, according to Cointelegraph’s Stellar price index. At publishing time, XLM is trading at $0.302, up 27% over the past 24 hours.

XLM also posted some major growth over the past year. According to CoinGecko data, Stellar posted year-to-date returns of over 500%.

As Cointelegraph previously reported, Stellar recently won the battle of blockchain payment networks against Ripple amid a major sentiment reversal. This came shortly after the Stellar Development Foundation inked an agreement with the Ukrainian government on Jan. 4, 2021 to collaborate on a new digital asset ecosystem including a central bank digital currency. The partnership immediately fueled massive XLM growth, resulting in 30% daily gains on Jan. 5.

Despite its ongoing rally, Stellar is still far from its all-time high of $0.78 on Jan. 3, 2018.

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