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

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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