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Stellar (XLM) Records 12 Percent Drop After Upsurge in Whale Activity

  • Alex Dovbnya
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    Stellar (XLM) is in the red after witnessing one of its biggest days ever, which coincided with whales moving around their fortunes

Stellar (XLM) Records 12 Percent Drop After Upsurge in Whale Activity
Cover image via news.u.today

Jed McCaleb’s brainchild Stellar (XLM) has had a rough day so far.

As reported by U.Today, the token surged by more than 40 percent on Sept. 18, leaving Ripple’s XRP, Ethereum (ETH) and other top altcoins far behind. Because of these enormous gains, XLM managed to stay in the green even when Bitcoin dropped like a rock to $9,600 and painted the whole market red.

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Bitcoin Price Drops to Zero on CoinMarketCap While Ripple's XRP, Stellar (XLM), and Ethereum (ETH) Register Huge Gains

Bitcoin Price Drops to Zero on CoinMarketCap While Ripple's XRP, Stellar (XLM), and Ethereum (ETH) Register Huge Gains

However, the XLM price is currently down by 12 percent, according to Coin Stats, which appears to be an expected correction.   

XLM price  
image by coinstats.app

Whale Alert, the website that keeps a close eye on gargantuan cryptocurrency transactions, has recorded plenty of multimillion-dollar XLM transactions over the last couple of hours. One of the latest transfers took place at the time of writing this article.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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