What’s The Fate Of Stellar Lumens (XLM) Following The Launch Of Facebook’s Libra? Sell-off Or Hold?

Stellar Lumens News Today – Almost everyone in the cryptocurrency space has been talking about Facebook’s Libra token since the tech giant released the white paper a few days ago. While this new kid on the block is going to be a threat to other cryptocurrencies, tokens that were created specifically for payment settlement purposes like XRP and XLM will most likely suffer the most. Meanwhile, the price of Stellar Lumens XLM has been stuck in a downward channel long before the announcement was made by Facebook. With Libra in play, there is no telling how bad things will get for XLM.

Stellar Lumens News Today – XLM Price Prediction – XLM Price Forecast – What’s Next For XLM After Libra?

Facebook’s Libra was created specifically to attend to the needs of the payment settlement industry just like Stellar Lumens and XRP. The Stellar network has been an attraction to many institutions even if it was made to attend to the needs of individuals. Over the years, Stellar Lumens has gained popularity. A while ago, IBM announced that it would be using the Stellar blockchain for its World Wire project. While the faith of the project is unknown at this time, it is expected to lead to a significant surge in the price of Stellar if it is approved.

With the Facebook cryptocurrency in play and with the Stellar Lumens IBM partnership hanging in the balance, members of the Stellar community are worried about the Stellar Lumens price prediction 2019 and and the future of XLM. Over the past 48 hours alone, the price of the token has fallen by more than 8% against the USD. This is discouraging and surprising at the same time. In fact, since the beginning of the year, the price of the Stellar Lumens XLM token has been suffering against the USD and BTC. It only recovered in April when PaysXDR launched a host of stablecoins on the Stellar blockchain. The last thing Stellar Lumens XLM needed was extra competition.

Stellar Lumens News Today – Stellar Lumens Price Prediction 2019 – Current Price Of Stellar Lumens XLM – Is Stellar Lumens Dead

Right now, it’s difficult to determine how the Facebook cryptocurrency will affect the market or Stellar Lumens XLM in particular. However, the CEO of Ripple, Brad Garlinghouse, is convinced that the launch of Libra is going to be beneficial for the entire cryptocurrency market. Traditional payment remittance service providers will be forced to change their technology and seek out blockchain solutions for speed, cost savings and efficiency.

Stellar (XLM) Price Today – XLM / USD

Name Price24H (%)
Bitcoin (BTC)
$9,803.00
-6.64%
Stellar (XLM)
$0.080669
-5.73%

At the time of writing, the price of Stellar Lumens XLM was $0.124210. This means that it is up by 2.23% against the USD and down by 2.94% against BTC. The trading volume over a 24 hour period is $288,168,350 and the market capitalization is $2,410,784,044. In the beginning of the year, we predicted that the price of XLM will surge as high as $45 in the next two years and $2 by the end of this year. Unfortunately, we the look of things, there is a chance that this isn’t going to happen. Right now, all we can do is wait and see.

What do you think about the Stellar Lumens news today? Will Stellar Lumens XLM survive the ever increasing competition? Share your thoughts in the comment section below.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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