Stellar (XLM) Still 23 Percent Up With Rest of Top 10 Coins Deep in Red

Libra Coin News
Thu, 09/19/2019 - 09:55
Yuri Molchan
Today, as the crypto market is neck-deep in the red with bears going forwards, Stellar’s XLM remains the only top-ten coin growing
Cover image via www.123rf.com
Contents

The recent Bitcoin price plunge has provoked the whole crypto market diving in the red. The digital assets are responding to the decline of the ‘crypto locomotive’ by falling on charts.

However, Stellar Lumens (XLM) remains not only the one to be in the green on the top ten list but it is also up 23 percent.

Image by coinstats

The leftovers from yesterday’s price surge

On Wednesday, U.Today wrote about a massive Stellar price pump when XLM surged over 40 percent. Back then, a crypto trader Josh Rager shared a screenshot with a massive green candle pushing the asset to trade at $0.082.

Even though that was a breathtaking rise over 24 hours indeed, the XLM price was still nearly 90 percent away from its ATH back in late 2017.

Analysts believe that to catch up with its previous all-time high, Stellar Lumens would have to pump 60 percent for a week in a row, which is a pretty hard thing to do at the moment.

Related
BTC, ETH, BNB, EOS Bullish Price Prediction by End of 2019 by Venture Investor William Mougayar

Recent Stellar milestones and other events

The Stellar team seems to work quietly on its upgrades and new developments, without hyping around those, unlike other cryptocurrency projects.

And unlike Litecoin, XLM developers seem to keep working on it actively. Among the recent important milestones here is the appointment of a new CEO to Interstellar. The new chief executive, Mike Kennedy, also a founder of Zelle, plans to unleash the full potential of the Stellar network.

One of the news reports that got massive attention of the media recently, is the transfer of an astounding 100 mln XRP to the wallet of a Stellar founder (former Ripple’s team member) Jed McCaleb.

This brought up a wave of indignation in the Ripple community since may believe that massive XRP drops frequently initiated by Ripple to the market are preventing XRP price from growing.

However, CEO Brad Garlinghouse in a recent series of tweets and a CNN interview stated that quarterly XRP sales and other use of the coin are necessary for increasing the XRP utility.

Recent XLM airdrop

As reported by Forbes, about ten days ago Stellar initiated a massive XLM airdrop worth $124 mln. The giveaway will be conducted as 2 mln XLM will be spread around the community within the coming two years via Keybase.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.