Monero Surpasses Chainlink in Market Capitalization Amidst Ongoing Rally

Monero (XMR) has overtaken Chainlink (LINK) in market capitalization, pushing XMR into the top 10 biggest cryptocurrencies. According to recent data, Monero's valuation stands at $10.07 billion, just above Chainlink's $9.96 billion.

Chainlink has seen significant growth, with its price increasing by nearly 18% over the last seven days and about 8.7% in the last 24 hours. However, Monero's rally over the past month has given it a substantial edge in market capitalization.

XMR increased from around $350 in early August to approximately $570 recently, while Chainlink broke out above $13 after recovering from the $8-$9 range in August. Despite recent consolidation, Monero remains in a strong uptrend technically, with its price well above its 20-day moving average of around $470.

Both assets are currently overbought, but their market capitalization difference is relatively small, with Chainlink trailing by only about $110 million or slightly more than 1% of their respective valuations.