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

Libra Coin News
Fri, 09/20/2019 - 19:22
Alex Dovbnya
Stellar (XLM) is in the red after witnessing one of its biggest days ever, which coincided with whales moving around their fortunes
Cover image via 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.

Related
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.   

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.

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.