The cryptocurrency market has been on a rollercoaster ride for the past 11 months. This last month was especially challenging. The war within the Bitcoin Cash community had a serious effect on the price of cryptocurrencies starting with Bitcoin. BCH suffered the most with the price falling as low as $130. The fall in the price of BCH was accompanied by a fall in its market capitalization.
Stellar Lumens (XLM) And Bitcoin Cash SV Take Center Stage
Well, after a major sell-off, the marker started to recover. The price of cryptocurrencies started rising against the USD. Of all the cryptocurrencies that recorded gains yesterday, XLM and BSV recorded the most gains. The price of XLM didn’t just go up, it’s share in the market capitalization went up to the point that it took the 4th position from Bitcoin Cash (BCH). Bitcoin Cash, the Bitcoin core fork that is now a merger of BCH and BCHABC, is now in the 5th position in CoinMarketCapital’s of cryptocurrencies.
Stellar (XLM) Price Today – XLM / USD
The rise of Stellar Lumens has attracted a lot of attention in the cryptocurrency community. Many known figures in the industry are referring to this change as winter in the cryptocurrency world. From the look of things, it would not be surprising if the bear market continues until the first quarter of 2019.
Yesterday, XLM gained significantly against the USD. At press time, the market capitalization was at $3.256 gaining more that $500 million within a 72-hour period. The coin sold at $0.17 and the 24-hour trading volume was $99.189 million. Most of the trading volume, about $12.775 million, was being recorded by Binance. Upbit followed closely at $10.337 million. While the coin has been growing consistently amid the bear market, the BCH take over was outstanding. The XLM coin went up by 10% within this period.
Stellar Gets Industry Attention
A while ago, the Chief Market Strategist at Ripple, Cory Johnson, put Stellar in the limelight when he said that the company had failed to live up to its potential. According to him, even if the platform was developed by a co-founder of Ripple, it isn’t as popular as Ripple. He said:
“I do not have an opinion about it. What I mean is that it was built by a smart guy but there are still many challenges when it comes to building a business in the digital assets industry, there will always be challenges. Many companies are developing on the XRP platform. Many more are doing so when compared to Stellar.”
Even if his comments were true, the Stellar community didn’t like it. Some people on social media were angered by the comment while others simply agreed with him.
Stellar Lumens (XLM) Price Analysis
At the time of writing, the price of Stellar (XLM) was correcting lower against the USD at $0.164196. However, it was still up by 1.64%. Against Bitcoin, it was up by 1.53%. The trading volume over a 24 hour period is $89,071,362 and the market capitalization is $3,145,101,530. The next few days of trading will determine if it can hold its position as the 4th largest cryptocurrency per market capitalization.