After steller steem is on the second spot in line of chasing 2nd position in marketcap. Looks like both of them have potential to reach the 2nd spot in marketcap.
Steem’s rise
As of July 3, according to figures from coinmarketcap.com, it was on the fifteenth spot with market cap of $15,009,110 and a 24 hour trading volume of $8,351. Lisk, Monero, Nxt, Litecoin, Dash and others were all ahead of it.
A week later, Steem moved to the seventh place with just NEM, The DAO, Litecoin, Ripple and Ethereum between it and the top currency, Bitcoin. At that point, its market cap had risen to $53,255,780.
By Sunday July 17, a week later, its market cap has risen to $296,231,190 to clinch the third place on the list of top cryptocurrencies. It has now pushed Litecoin and Ripple behind. This leaves it on the trail of Ethereum which has a $935,944,265 market cap, a drop from its $982,972,205 on July 3.
Whether Steem will be able to maintain its growth or even gather more steam against the top two currencies is as good as anybody’s guess. Users sharing their beneficial experience with Steemit has worked well to push its subscriber base though we can’t say how long such would last.
Ethereum’s hard fork
However, the pending Ethereum hard fork to recover the funds from the DAO exploits after it was hacked in June is worth watching out for.
Planned to occur at block 1,920,000, which should be on July 20 or 21 depending on time zone, the reset promises a move of all the money into a smart contract that can only reimburse investors.
The Ether's price increase in May was attributed to the rise of The DAO - or the distributed autonomous organization.
So guys lets Upvote and Resteem it...
