Altcoins
Ripple (XRP) bullish trend stops but Stellar (XLM) keeps mooning
There have been significant happenings in the crypto sphere lately. The crypto market had a big bull last week which saw most of the altcoins increasing by significant percentages. Ripple (XRP) increased by 64% within a week, which saw it go above Ethereum.
The bullish trend of XRP has moved a bit downwards; nevertheless, the crypto is still trading in green as its valued got increased by 1.21% in the last 24 hours. But in the wake of this, Stellar (XLM) has increased by 21% again over the previous 24 hours.
Concerning Stellar (XLM), Stellar is a blockchain network that was created on Ripple’s protocol. Although, Stellar is a lot more different from Ripple, being that it targets developing markets in place of banking systems. Stellar makes use of a quorum which makes it distinct from other digital currencies.
Recent Happenings with Stellar (XLM)
Recently, it was revealed that the crypto startup supported by Goldman Sachs, Circle will list four more cryptocurrencies to its platform. The startup said that the listing would be based on cryptocurrencies that gained lots of profits within a year. Through a post by the SVP head, Divya Agarwalla, it was declared that Stellar, Ox, EOS, and QUTM would be listed on the platform.
It is essential to know that this declaration didn’t have that massive effect on the prices of these four cryptocurrencies – but benefiting more than the others, Stellar (XLM) has increased by more than 20% in less than 48 hours. Concerning the post by Circle’s head of SVP, this will make the count of cryptos added to Circle to be eleven.
Stellar (XLM) will now be part of Circle’s platform in the next few days; this will allow crypto enthusiasts get close to not only on Stellar (XLM) but the other cryptocurrencies.
More importantly, Agarwalla further added that the inclusion of the four cryptocurrencies was also due to “their potential to contribute powerful infrastructure to the broader crypto ecosystem.” He also added this,
“As we introduce new crypto assets, we also recognize the need to educate our customers and bring clarity to this fascinating, yet complex asset class… Accompanied with our simple user experience, this easy to understand content will serve to further our mission of bringing crypto mainstream.”
On other recent happenings, a mobile branch of LG is allegedly considering to partner with cryptocurrencies such as Ripple (XRP) and Stella (XLM) to enhance its cross-border payments. It is necessary to note that this mobile service will begin next year and it will make use of cross-carrier payment system.
Stellar (XLM) Market Activity
At the time of writing, XLM stands at $0.2844. It has a market capitalization of $5,344,229,821, with a trading volume of $296,415,957. In the last 24 hours, Stellar (XLM) price increased by 21%. In 7 days, XLM increased by 38.8%, in 2 weeks, it increased by 45.7%.
The last time when XLM traded at this rate was in the first week of August. Nevertheless, the market seems to be recovering from the dips it has been experiencing for quite some time now. The total market capitalization is currently above $220 Billion as a result of the recent bull-run. Nonetheless, Stellar (XLM) holders will be hoping that their favorite reaches its all-time high of $0.875563 before the year ends.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Fundamentals
Cardano price has recorded significant losses in recent weeks in tandem with the global cryptocurrency market. Most of the digital assets have been treading waters over the past few weeks, with the premier cryptocurrency struggling to break above the crucial level of $27,000. The global crypto market cap has increased slightly over the past 24 hours, while the total crypto market volume decreased by 25%.
The Crypto Fear & Greed Index, which is a key measure of the emotions driving the cryptocurrency market, is a fear level of 39, slightly lower than the fear level of 42 recorded last week. A fear level usually indicates a decline in risk appetite by investors which might prompt traders to sell irrationally.
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Economic Concerns
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Regulatory Concerns
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