Monero Surges Past Chainlink in Market Capitalization

Monero has overtaken Chainlink in market capitalization, pushing it into the top 10 biggest cryptocurrencies. According to market data, Monero is worth $10.07 billion, just above Chainlink's $9.96 billion capitalization.

Chainlink itself has performed well, increasing by nearly 18% in the last seven days and about 8.7% in the last twenty-four hours. After a recent recovery from the $8, $9 range in August, its daily chart shows a breakout above $13.

Monero's journey has been distinct, with a greater rally over the previous month. Although it dropped by about 1.4% over the last week, Monero was able to maintain enough market capitalization to surpass Chainlink due to its significant increase from around $350 in early August to about $570 recently.

Both assets are in overbought territory, with an RSI of around 70 indicating a higher risk of short-term correction. In the short term, Chainlink is even more strained, with its 20-day moving average at $11.15 and an RSI above 75.