For some time now, Cointelegraph has been highlighting how Monero has been declining gradually in terms of market capital ranking. Therefore, it was no surprise to us when it finally left the top 10 last week Friday.
However, the anonymous coin has demonstrated a lot of resistance with all indications it is not ready to give up. Since Saturday, it has been fighting with Stratis over the bottom spot of the top 10.
It has been a seesaw affair with each digital currency dislodging the other four times in four consecutive days, making the battle intense.
Stratis could not recover very well from the issues it had with its wallet which led to its value waning. Its market price, which was in the $11 range, is currently fluttering around $6.95.
On the other hand, Monero could not sustain its $50 price and it has now settled at $46.87. The gap between the two is slim even though Stratis seems to be widening the gap since it took over the tenth position on Wednesday night.
At the time of filing this report on Thursday morning, Stratis was up 1.61 percent with a market capitalization that was a little more than $695,000. Meanwhile, Monero was holding $687,657,810 and down 2.52 percent.
Will Monero come back?
Stratis’ lead is beginning to assume a commanding position and Monero may not be able to catch up. But in the crypto world, anything can happen over night.
The reality is that the latter has not been consistent for months now. Monero gradually declined from the sixth rank in April till it finally lost elite status last week.
Even though Stratis entered the top 10 with great zeal, it basically couldn't maintain the momentum along the line. Moreso, with the entry of the likes of BitShares and IOTA, the race has become intense, leaving the weak no other option but to fall down the ranks.
For now, Stratis is the tenth most valuable cryptocurrency in the world and Monero needs to prove what it is made of in order to take over. Cointelegraph will continue to update our cherished readers on any new developments.