Binance Coin (BNB), the native token of Binance exchange, has overtaken Stellar Lumens (XLM) to become the eight largest cryptocurrency by market capitalization.
This has happened after a prolonged outperformance by BNB and a prolonged underperformance by XLM.
BNB is the best performing top cryptocurrency over the past 30 days while XLM is among the worst performing.
Data from Messari shows BNB appreciating 79.59% over the past 30 days while XLM appreciated 3.74% over this timeframe.
While many top cryptocurrencies increased over the past month, the weekly chart for XLM shows price consolidating over this period.
Multiple Doji candles were formed on the weekly chart. A Doji candle is a candle where the open and the close are around the same point and typically reflects uncertainty from traders.
XLM Daily Chart
After a significant drop which took place last Sunday that resulted in XLM failing to overcome a significant resistance level, the price has mostly been consolidating for the…