Stellar Lumens News Today – Headlines for November 2

  • Stellar Lumens and Decred outperforms Bitcoin over the past day
  • Reasons why Bitcoin price is heading south
  • Stellar Lumens surges higher because of reduced inflation rates

Stellar Lumens News Today – The price of Bitcoin (BTC) has been relatively stagnant over the past few days. The digital currency has been hovering between $9,100 and $9,300 over the past day. The king of digital currencies, Bitcoin (BTC), recently started a sharp downward trend that saw it below the $9,200 mark. While it heads south, the majority of altcoins in the market followed it.

Nevertheless, two altcoins among the top twenty decided to follow a different path. They performed pretty well compared to the crypto king. One of those outstanding altcoins is Stellar Lumens (XLM). There has been a considerable change in the digital currency market trends this year. The market is highly unpredictable and no one knows what is up next for both Bitcoin and altcoins.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$9,868.801.83%
stellar
Stellar
$0.0733.17%

Why Is the Price of Bitcoin Heading South?

The number of outstanding futures contracts or commitments has almost reached $1 billion for the year. This shows that the bulls are exhausted and there is an increased grip on the spot market. There is also a significant decrease in the volumes close to the second half of the year. This signifies an increase of open interest as compared to spot trades, which are quite the opposite of futures contracts.

The increased institutional interests are a possible explanation for this. Nevertheless, it was not that notable but it was better developed than it was in its previous terms, which probably set the price of Bitcoin towards an increase in its market dominance. Another possible explanation for the lower volatility periods is that several institutions may not trade on the retail-focused digital currency trading platforms.

Stellar Lumens Price Rises and Bitcoin Price Plunges

The price of Stellar Lumens (XLM) has been on the rise, despite the recent poor performance of Bitcoin (BTC). The second altcoin following the trend of Stellar Lumens is Decred. The price of Decreed surged by 9 percent while that of Stellar Lumens was up by about 7 percent. The price of Stellar Lumens (XLM) has been on the rise because the last release of Protocol 12 removed the one percent yearly XLM inflation. Irrespective of the fact that the daily sentiment has surged to be about 65 percent, Decred does not have any fundamental catalyst.

Based on governance, Decred is different from Ethereum (ETH) and Bitcoin (BTC), while the proper launch states the correct execution of the project. The launch of Politeia has shown that the dividends are being paid off for its holders.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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