Home / Stellar Lumens News / Stellar XLM Analysis: XLM ‘Extremely Bullish’ Again After 40% Pump in Bear Market

Stellar XLM Analysis: XLM ‘Extremely Bullish’ Again After 40% Pump in Bear Market

Today the cryptocurrency market is again experiencing bearish movement and the currencies have dropped significantly from the values. World largest cryptocurrency Bitcoin has been trading with the bears lately and most of the altcoins such as Ethereum, Ripple, and Litecoin have made some good gains, but currently, the currencies are around bearish pressure. XLM, which is increased in the earlier 2018 and now it is in the top 10 currencies.

Current Status of Stellar Lumen (XLM): Today, the currency is trading at the value of $0.079358 and its value is increased by 14.23%. The market capitalization of the currency is $1,593,867,528 and the 24-hour volume is $644,469,140. The circulating supply of the currency is 20,084,644,343 XLM and it’s ROI is 2,566.86%.

Yesterday, the value of the currency increased by 30% but eventually, it dropped after some time. The change in the price of the currency is observed the cryptocurrency exchange, Coinbase. The value of the Stellar has experienced an increase of around 40% in the previous 2-3 days and the reason is not clear. As earlier the value also dropped up to the low up to $0.05 which is the year-to-date low of this month.

The cryptocurrency XLM has experienced around 91% of the decrease in the value from its all-time high. This is similar to the other currencies which follow the bulls momentum of the Bitcoin in 2017. There is a lot of talk on Twitter and also the user’s pointed out that the investors are purchasing the currency to increase the value rather than selling. On the other hand, Twitter doesn’t register any significant amount of transaction on Stellar.

The cryptocurrency Stellar Lumens (XLM) was founded by the co-founder of Ripple, Jed McCaleb in the year 2014. Recently, the Stellar Development Foundation has declared that it will be going to give away around 2 billion to its crypto token XLM in the upcoming 20 months period. The money is worth around $124 million at the present time. On the other hand, some of the people are saying that if not properly handled then it will raise the eyebrows of the U.S. Securities and Exchange Commission.

On the other hand, the senior market analyst of eToro, Mati Greenspan stated,

“Looking at the crypto markets right now, It’s plain to see that bitcoin has been extremely stable.”

He further added,

“It seems that while bitcoin’s performance is lagging. Some of the altcoins have been zooming. To me, it seems like it’s still a bit early to be calling this an ‘altseason’ but it certainly has the potential to turn into one.”

He wrote this note to his clients.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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