Stellar Price Slips as XLM Coin Falls Almost 7% In 24 Hours Even Though Growth is Expanding
Although Stellar (XLM) and other digital assets have been performing positively in the last few weeks, it seems that the bull run might have come to an end, at least for some time. Digital currencies, including Stellar, are falling more than 5% among the top 10, excluding Bitcoin (BTC). Could positive developments help Stellar remain stable?
Crypto Market Falls
After several positive weeks in the cryptocurrency space, it seems that most of them are experiencing a correction. Excluding Bitcoin, most of the all top 19 virtual currencies are registering losses larger than 5%. Ethereum (ETH) is falling 7.81%, XRP 5.85%, EOS 5.04%, Bitcoin Cash (BCH) 8.32%, Litecoin (LTC) 10.2%, Binance Coin (BNB) 6.06% and Stellar (XLM) is dropping 7%.
It is worth mentioning that each digital asset had its own reason to remain stable in this drop. For example, Litecoin, that is currently registering the largest drop after Tron (TRX), will be soon halving and reducing its new issuance of LTC. At the same time, developers behind Litecoin are going to be implementing privacy features such as Confidential Transactions (CT) or MimbleWimble.
Meanwhile, Stellar has recently informed that Western Union, one of the largest international payment processors in the world, is going to be using XLM for cross-border transactions. This will help XLM compete against XRP and Ripple that are also expanding in the market and all over the world.
Moreover, after several months of research and development, a new gateway to Seller blockchain has been unveiled. Called Astrograph, it is possible to be connected to the Stellar blockchain with a single GraphQL endpoint.
Stellar has been performing very well during the last weeks, as the whole virtual currency market. Nonetheless, things seem to be harder, not only for XLM but also for all the crypto space as a whole.
At the time of writing this article, Stellar is being traded around $0.117 and it has a market capitalization of $2.26 billion.