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Stellar (XLM) Gets Support from Bitfinex While Having Issues in the Market

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Bitfinex

Ranked as the eight-best currency in accordance with the global coin ranking list, it seems that Stellar Lumens is having some troubles with following up with the latest trend in the market, which is trading in the green. As we can witness the majority of digital assets having a massive rebound while gaining on the value in the market, Stellar has been dealing in the red almost for the entire period of extensive rises. Stellar also recently got listed on Bitfinex, which probably made its position in the market slightly more benevolent. Let’s see how Stellar is doing these days while the market was spiking.

Stellar Gets Added to Bitfinex

A couple of days ago, Bitfinex decided to add more cryptos to the already existing list of tradable coins and tokens supported by this exchange platform. That is how Stellar was added to the list on Bitfinex that way making one step forward trading in the green despite the case of unexplained plummeting that took over Stellar even though the market was spiking while trading in the green for days now.

Besides from Stellar, Bitfinex also added Bitcoin Interest and Verge, providing support for three new digital assets being added to the exchange platform.

Bitfinex is one of the most popular exchange markets on the global level, which means that these currencies will consequently gain a higher level of exposure with this listing. It is always a great thing when having any of the coins listed on another exchange, as the listing doesn’t fail to push the value of the listed coin up against the market.

That is how Stellar managed to pull off a nice set of rises in the last 24 hours despite the case that Stellar has been trading in the red for quite some time even though the general atmosphere in the market was quite the opposite as the majority of digital currencies went on with trading in the green with frequent rises.

After dealing in the red with frequent drops against the dollar, as well as against BTC and ETH, we saw XLM having a minor rebound mirrored in the weak rise of 0.44% against the dollar, which was the case yesterday. This benevolent case was probably influenced by the fact that Stellar is now available for trading and exchanging on another one market exchange with support from Bitfinex.

Today, Stellar has made a more significant move against the dollar as it acquired a rise of 1.36% against the dollar, which shows in a way that Stellar is trying to go up against the market and adopt the current trend of having the majority of currencies trading up in the green.

However, the fact that Stellar Lumens is not experiencing the expected rise when compared to its peers, shouldn’t be worrying XLM investors. This is because it is more than likely that the holders of the rising coins will soon want to earn some profit from the rising coins, so they may be a massive selloff again once the waves of rises take a break. Stellar is less likely to plummet as there are small possibilities that XLM will become a part of the selloff in case the selloff takes place anyways.

How is Stellar doing at the Current Moment?

Stellar was trading in the red for days even though it was expected that this one of the top ten currencies is more likely to go up while following the market trend. That didn’t happen since Stellar didn’t take on the trend in the market up till yesterday when this currency managed to acquire a minor rise of 0.44% against the dollar probably due to the fact that XLM has gained the support of Bitfinex, that way also getting more on its level of exposure.

During the last 24 hours, Stellar Lumens has had another benevolent change in its price, which means that XLM is now being traded in the green against the dollar, going up for 1.36% against this fiat currency.

However, since Stellar is having a troublesome time while trying to adopt the current market trend, XLM is dropping against BTC, going down while trading in the red by 3.77% against Bitcoin, which means that BTC is doing better than XLM at this moment, on May 4th.

After the latest change in the market, one unit of Stellar Lumens can be purchased at the price of 0.43$. Stellar made its all-time high back in January at the beginning of 2018, when this currency was valued at around 0.70$ per one unit.

The fact that the current price under which Stellar is being traded is not that far from its all-time high, should probably assure XLM investors that Stellar is not losing its game although it may seem like it when compared to the rises collected by its peers during the last week.

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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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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