Kataryna Kovtun July 10, 2020
Stellar cryptocurrency (XLM) performed very well after Cardano (ADA).
Only ADA today faced resistance and began to suffer losses, while the XLM, by contrast, continues to gain in value.
What Is Stellar?
The Stellar network is an open-source, distributed, and community-owned blockchain network used to facilitate cross-asset transfers of value. Stellar aims to facilitate these transfers at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. The native digital currency of the network is known as Lumens (XLM). Every Stellar account is required to hold a small number of Lumens to act as a barrier against spamming the Stellar payments system. Through the use of Lumens, a user can send any currency that they own to anyone else in a different currency. Stellar also supports smart contracts.
Lumens (XLM) Price Growing
The coin reached $ 0.1, which is the best result for the last year. In 24 hours, the cryptocurrency capitalization grew by almost 15% to $ 1.859 billion. Stellar rose in the ranking of the largest digital assets, surpassing Tezos.
Over the past three days, XLM has gained more than 50% in value, but analysts believe that pumping will soon be replaced by a sale.
Achieving an annual maximum was a direct result of the surge in interest in altcoin from users of social networks. Analysts at the Santiment platform found that in addition to Stellar, users of social networks discussed the take-off of the Dogecoin coin. Read more here…
According to the leader of the Santiment team, Dino Ibisbegovic, an active discussion of a cryptocurrency on social networks usually leads to its further decline.
Over the next 12 days after a coin is included in the list of new trends, its price drops, on average, by 8.2%.
The expert predicts that, most likely, in the coming hours or days we are waiting for a short-term and negative correction.
Join Bitxmi Exchange and get $10 worth of BXMI token after your first trade
Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi’s role is to inform the cryptocurrency and blockchain community about what’s going on in this space. Please do your own due diligence before making any investment. Bitxmi News won’t be responsible for any loss of funds.