Home / Altcoins / Stellar Lumens Blockchain sees downfall, but Crypto enthusiast perpetuate trust over XLM

Stellar Lumens Blockchain sees downfall, but Crypto enthusiast perpetuate trust over XLM

In the world full of Cryptocurrencies, where every coin race towards a higher level and they are able to achieve it too, Stellar Lumens (XLM) is struggling hard to make it to reach the level of other Bitcoin and to maintain a good position in the Cryptocurrency market. Against USD, a minor change, ascend has been seen in Stellar Lumens, otherwise as compared to other Cryptocurrencies, Bitcoin, XRP, Ethereum, Stellar Lumen is far away to reach their level. Though with this poor performance, XLM has maintained its integrity in the market and grabbed people’s attention a lot.

 

The daily users of Stellar Lumens conclude that it is going to be the largest Cryptocurrency among all and will bring revolution in the Cryptocurrency market. Recently, SatoshiPay has also started using XML. CEO of SatoshiPay, Meinhard Benn says that “Essentially, the best business decision and technical decision we made in our history so far is to switch to Stellar.” This shows the trust for XML among the investors and their positive attitude towards it.

 

This comment from Meinhard Benn was published on the official Stellar Page. This has been done to improve the visibility of Stellar Lumens and to maintain the legacy of the Stellar community, as said by the members of the Cryptocurrency Community. They said that it is much needed in order to improve its performance in the market.

 

XLM is performing well over the last 24 hours but hasn’t reached and catch up even with the altcoin market yet. In the past 14 days, the highest price that XLM has drawn is $0.13231. This is the highest level on the date 17th June 2019. After which XLM has seen a great downfall by drowning deep to $0.1300, and now it seems next to impossible to stay above this resistance as XLM howsoever come back to this level again and again. Since 17th June 2019, XLM has lost 4.6% of its value. 20th June 2019, seems to be the darkest day for XLM as at that day its price reached to $0.1208. But afterward it got increased by today about 4.3%, and that’s a bit relief for the XLM community as well as its investors.

 

There could be many reasons for the downfall of Stellar Lumens, let us look at few of them:

  1. According to a few analyses, the uncertainty about the IBM Stellar Partnership could be the major reason for the downfall of XLM price.
  2. According to a few other analyses, Facebook’s new project on its own version of Bitcoin, Libra could be the major reason for the downfall of XLM price.

The price of Stellar was $0.128058, 1 day ago, which means that it is up by 1.83% against the USD and up by 4.97% against BTC. The trading volume goes up to $521,904,793 in 24 hours and $2,485,467,654 of its market capitalization. But this ascend of XLM is too minor to count on and it seems that XLM may reach $0.300 level before the end of the year. Investors are being long-sighted; they may be right or wrong but for the present, future of Stellar Lumen seems to be in a big moat.

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About Anushree Goswami

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Anushree Goswami is a Content Writer and has interest in Blockchain Technology. She has been working in the field of content writing for more than 2 years and is passionate to know and learn about new technologies.

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