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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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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
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    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
Cover image via www.123rf.com

China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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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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