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Stellar (XLM) Has Edged out EOS from the Number 5 Spot on Coinmarketcap. Is XRP next?

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Stellar

The last 24 hours have been a tumultuous time for the crypto-markets. We have seen our favorite digital assets literally nose-dive in value and in front of our eyes. Many traders have cashed out completely. Others have cashed out temporarily until the storm is over and as they look out for the strong coins and tokens to present themselves in the markets. One such coin is Stellar (XLM) and it has edged out EOS (EOS) from the number 5 spot according to coinmarketcap.com.

The total market capitalization of XLM at the moment of writing this stands at $3.992 Billion and that of EOS is at $3.936 Billion. A good $56 Million in value stands between the two currencies and only time will tell if EOS will respond to the level of stability showcased by XLM during the current time of turmoil. A better picture of the current situation at the top 6 can be seen below.

XLM edges out EOS on coinmarketcap.com

Next in line for XLM is Bitcoin Cash (BCH) that has dropped to levels only seen when it was released just a year ago. Many are saying it could get worse for the coin but it would take a halving in value for XLM to zoom past BCH on coinmarketcap. This means that BCH would have to drop to under $300 for this to happen or XLM would have to double in value. The latter situation is highly probable given the resilience of XLM.

What about XRP?

John Bollinger, the inventor of the Bollinger Bands used in the technical analysis of both traditional and crypto markets, had expressed his concerns about the rapid decline in value of XRP in the markets. He had noted that the digital asset had dropped in value by 90% since its impressive bull run of January. According to him, the time was nigh to see signs of longtime HODLers folding and selling all their XRP.

One of the major factors that might accelerate the decline of XRP is the current SEC scrutiny as to whether the digital asset is security or not. The second factor is the pending lawsuits against the Ripple company that claims the firm issued an unregistered securities sale.

Looking at XLM, it has been good news after good news for the project and coin. We have had news from its partner, IBM, that hint towards massive adoption of the Stellar blockchain on a grand scale. There is also the possible addition of XLM by Coinbase. This fact means that the American exchange prefers XLM over XRP due to the pending court cases and SEC scrutiny. The future is bright for XLM.

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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

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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