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Stellar (XLM) on the Wrongside of the Crypto-Slump

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The recent price movements experienced in the Cryptocurrency market in the past few months have left investors baffled, as volatility seems to increase with each passing moment. Such is the position of Stellar (XLM), currently ranked Seventh in the world according to Coinmarketcap. Despite the news, events surrounding Stellar Lumens that can have a positive impact on investor sentiment, the value of the Cryptocurrency has gone downhill in the last few days, currently recovering from a massive slump experienced on March 18th.  This comes at a time when Stellar announced Irene Energy’s shift from the Ethereum network to Stellar’s own network. Stellar’s XLM tokens also got listed on the Koinex Exchange and the Stellar team managed to confirm a partnership with Bluepan Net.

However, all of the above positive news does not seem to have an effect on the stellar current price decline.  On March 17th, Stellar reached its lowest point in recent times, dropping to a shocking 0.159964 USD in value and a market cap of 2,959,123,604 USD. The situation has somewhat improved, with Stellar’s market cap reaching $4,686,497,327 USD on March 20th.

Impending Events Involving Stellar Lumens

Despite the announcements of three important events in the Stellar network, the price of XLM tokens is not recovering to a great extent. The events are discussed in brief below.

  1. The Partnership: More than a week ago, Stellar Lumens announced a partnership With BluepanNet, which is a huge success for any Cryptocurrency. BluepanNet represents one of the biggest remittance institutions in the world, which uses the famed blockchain technology. Launched in 2015, BluepanNet originally worked with Bitcoin, before shifting to other alternatives for cross-border payments, like Stellar Lumens. Bluepan recently completed a successful test run of the Stellar integration feature and hopes to lower transaction fees by a significant margin all across Asia.
  2. Irene energy Announcement: Irene Energy, another Cryptocurrency announced a platform migration from the Ethereum network to the Stellar Lumens platform. Since the Ethereum network can be considered as the biggest platforms in the world, a coin transferring to this platform is a positive sign for Stellar Lumens.
  3. Koinex Listing: The Koinex exchange announced the listing of XLM tokens on their platform, available for live trading from 10th This bit of positive news was supposed to positively impact XLM’s price, but instead the XLM price nose-dived.

Current Market Scenario for Stellar lumens

Crypto analysts and industry experts seem to be pessimistic about Stellar’s future price, with some advising others to move away. Karla Mckan, a crypto-market specialist remarked,  “It seems like the whole XLM fam is dead. Nothing seems to excite them at all. Looks like it’s the end of Stellar for me.”

Another blockchain enthusiast, Aman Chawla, also had a negative view about the current market position of Stellar, commenting, “Stellar is nothing but all mouth and no trousers. It’s ridiculous that people are even interested in this shitcoin.”

Final Thoughts

It is indeed true that Stellar was experiencing frightening dips over the last few weeks, being featured in “crypto’s biggest losers” lists more than twice. However, the price seems to be recovering from the horrific lows experienced on March 17th, with investors hoping that the price would rise considerably in the days to come. As it stands, Stellar Lumens has recovered remarkably well, Reaching 0.252381 USD at the time of writing from 0.159964 USD on March 17th. Although current market sentiments appear bearish, many investors feel that Stellar has hit rock bottom, and the price could only increase from this point. XLM tokens are expected to be the leader in the bull run once the market recovers. It is worth noting that Stellar Lumens, is an already established cryptocurrency, with over 40 different partnerships completed throughout 2017. Hence, Stellar Lumens remains a strong Cryptocurrency and a superior investment, compared to its peers in the market.

We will be updating our subscribers as soon as we know more. For the latest on XLM, sign up below!

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.

Image courtesy of Gloria Williams via Flickr

Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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