Is Stellar Lumens Dead? Why XLM Is Falling While Bitcoin Booms

Stellar News Today – Stellar (XLM) is the only major digital currency that did not record any price gain in 2019. The cryptocurrency which recorded some growth in the previous year continues to lag behind Bitcoin and other altcoins. Considering the continuous plunging of XLM, its past success seems questionable. Since the beginning of the year, the 12th ranked, XLM has not increased in price. However, other coins positioned around it recorded between 100% and 1,100% rise within the same period. Currently, the price of Stellar’s coins continues to fall but it had a momentous 2018. The success of XLM in the previous year encouraged its institutional adoption. It also led to tech firms partnering with the crypto project. However, it is vital to find out why Stellar lags behind other crypto assets.

Stellar Lumens Latest Update – Stellar Lumens News Today- XLM’s Past Success Before The Never Ending Decline

Data from CoinMarketCap confirmed that over the past couple of years, Stellar outperformed Bitcoin. However, the cryptocurrency is losing steam in 2019. Looking back at the second half of 2018, Stellar consistently hit the headlines for outperforming other cryptocurrencies. Even the plunge of other digital currencies from to summer to winter didn’t affect Stellar. Instead, XLM soared during that period.

XLM became the preferred coin of many after a procession of bullish news. A few months later, Stellar was chosen for use in IBM’s World Wire cross-border payments platform. It was included in the list of investable crypto assets by Circle and was among the major coins considered by Coinbase for listing. There was also an unfounded rumor about the usage of Stellar on Facebook’s proprietary blockchain. Jed Mc Caleb, the creator of Stellar, was grouped among the ten people “leading the blockchain revolution” in an article by the New York Times. Besides, UNICEF included Stellar in the list of currencies in which the aid organization can receive donations.

Stellar Lumens News Today – XLM Latest Update – Stellar Lumens Price Prediction- The 2019 plunge

As a result of its continuous uptrend in 2018, Stellar hit headlines. It overtook the 6th placed Litecoin (LTC) and 5th placed EOS in July and September respectively. It was expected to make its way to the crypto market cap top 10. However, XLM has fallen to the 12th position by July 2019. Other altcoins grow as XLM plunges. Since January, the coin has declined by 9% and 69% against the dollar and Bitcoin respectively. The staggering plunge against Bitcoin occurred in six months.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$7,214.730.247%
stellar
Stellar
$0.052-1.18%

Just like Stellar’s XLM, XRP and Waves also recorded success in 2018. Waves growth even quadrupled between November and December. Also, both coins aren’t growing in 2019. Waves lost over 40% while XRP gained just 8%. Even XLM’s low market price of $0.7in December did not attract new investors. Such a situation may be the cost of the coin’s previous success. However, EU adoption of Stellar this April as a stablecoin maker for its 2 million businesses and customers tried to increase the crypto asset’s value.

Though XLM hasn’t gained much since January 2019, it only lost a little of its value. Unlike other digital currencies that lost almost 99% of their value, XLM only declined by 92%.

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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