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XRP and Stellar (XLM) Updates

Most of the cryptocurrency market is trading in the red this morning, but the movement is trending upwards, and coins are beginning to flip green. Stellar (XLM) is just at the cusp of making the transition to positive market gains, but XRP, the coin created by Ripple, is falling far behind.

Let’s take a closer look at the projects surrounding these cryptocurrencies and their latest movement.

XRP

Ripple and XRP are often confused with one another. Ripple Labs is a blockchain-based global fin-tech company seeking to aid financial institutions with their proprietary payment platforms. XRP is a digital currency, independent of the company, that powers Ripple’s xRapid product. Ripple owns a large majority of the digital token.

Earlier this week, Ripple held its annual Swell conference, but instead of Toronto, it was held in San Francisco.

The event kicked off with a Q&A with former US President Bill Clinton, and Day One concluded with a concert by the Counting Crows. Despite the positive two-day event, XRP hasn’t seen any boost in its price.

>> xRapid Expands into Commercial Production

Stellar (XLM)

Earlier in September, the Stellar Foundation announced a new subsidiary of its company called Interstellar. Interstellar is a combination of two former subsidiaries named Lightyear and Chain and will employ 60 individuals. It is headquartered in both San Francisco and New York City. Stellar’s Founder, Jed McCaleb, will take over as CTO and Adam Ludwin will take over as CEO.

The Interstellar team manages StellarX, the newly released peer-to-peer asset trading marketplace.

StellarX was launched last week and currently holds the most popular cryptocurrencies on its platform. The platform is completely free to use, as in they do not charge a fee for trades. StellarX has a real fiat onramp, and if you have a US bank account, you can deposit USD directly into the app, via ACH.

>> StellarX is Here!

XRP and XLM Price Movement

According to CoinMarketCap, XRP is currently trading at $0.516 a coin, down -3.26% in 24 hours. XRP remains the third largest cryptocurrency by its total market cap. Stellar (XLM) is currently trading at $0.243 a coin, down -0.48%. Stellar remains just below EOS as the sixth largest cryptocurrency.

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Stellar (XLM) Embraced by Visa-Backed Blockchain Company

The Stellar Foundation is a non-profit blockchain project that built the Stellar network. The Stellar ecosystem holds the digital token Stellar (XLM), or Stellar lumens.

The for-profit subsidiary of the Stellar Foundation, Lightyear, purchased Chain for around $40 million. As part of the all-cash deal, all of Chain’s existing investors, such as Citi Ventures, Visa, and Nasdaq will all receive a return on their initial investment, Chain’s co-founder, Adam Ludwin, told Forbes.

“All of the clients that we have now have effectively shifted from using a traditional database model to using a tokens model, issuing assets on a local environment,” said Ludwin, who is CEO of the newly formed Interstellar. “By partnering with Stellar you can fire an asset to another institution.”

Interstellar

Lightyear and Chain will both be retired, and Interstellar will employ 60 individuals. Interstellar will headquarter in both San Francisco and New York City. Ludwin will be taking over as CEO of Interstellar and Stellar’s founder, Jed McCaleb, will become CTO of Interstellar.

Ludwin told Forbes that StellarX, the trading service created on the Stellar blockchain, will also move under the Interstellar umbrella. StellarX is anticipated to launch in just a few weeks.

StellarX states that it is a free, fast, and user-friendly peer-to-peer marketplace. Its website claims that it will hold every asset class imaginable such as cryptocurrencies, bonds, fiat, and commodities. StellarX is currently taking email addresses and will email individuals when the product is made available to the public.

Visa, Nasdaq, and Citi

Last year, Visa announced that it launched the first phase of its B2B payment network that was powered by Chain. Nasdaq and Citi also announced last year separate joint projects that focused on cross-border payments using Chain.

>> Vitalik Buterin Told Bloomberg that Crypto Won’t See “1,000-Times Growth” Again

The reason for the acquisition Ludwin said was because Chain was unable to bring new customers together without a public network. The company thought about making its own public blockchain but then ultimately turned to Stellar. Ludwin said that Chain and Stellar have equal but opposite problems and this merger can solve them both together.

Stellar (XLM)

Stellar (XLM) is currently selling for $0.189410, which puts the coin down 3.76% in the past 24 hours.

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Ethereum News and Stellar News

The cryptocurrency market has been all over the place lately with its price movements, and today, most of the top 10 cryptocurrencies are in the red. Today, we’re going to track the latest Ethereum news and Stellar news.

Stellar (XLM) has made a phenomenal rise on the market lately, but it seems that the world’s second largest cryptocurrency, Ethereum (ETH), has dipped to a year-low today.

Ethereum (ETH) Dips Below $300

Ethereum (ETH)
Source: CoinMarketCap

Ethereum news today has ETH hitting its year-low of below $300, as the coin took an unexpected nosedive during earlier trading. Ethereum hasn’t traded under $300 since November of 2017.

At press time, Ethereum is trading at $290.24 a coin, down -9.86% in 24 hours. For the week, ETH is down -28.59%, and for the month, the coin is down -32.71%. Year-to-date, Ethereum is down -61.59%.

Ethereum developers are frantically trying to solve Ethereum’s on-going scaling issue, but it seems investors have lost confidence in the coin. This year, however, it has been extremely hard to tell if investors have lost confidence in the project itself or if the coin hasn’t made them the money they were expecting it to make for them.

Many investors entered into the crypto market expecting to make a ton of money—with little research. These sharp falls of digital currencies could very well be investors bowing out of the game because coins aren’t making them what they are expecting them to.

>> Facebook Execs Talk with Stellar Foundation

 Stellar (XLM) Soars

The biggest Stellar news is XLM passing EOS to become the fifth largest cryptocurrency by market cap. Currently, Stellar is ahead of EOS by $50 million in its market cap. At press time, XLM is trading at $0.228 a coin, up 3.24% in 24 hours.

For the week, XLM is down -3.38%, and for the month, the coin is up 13.99%.

>> EOS’s Fourth Global Hackathon Announced for San Francisco

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Stellar News | Stellar (XLM) Price is Up But Why? Rumors Abound

Stellar (XLM) is currently the only digital currency within the top 13 cryptocurrencies that is seeing any sort of gains on the crypto market today. So is there any Stellar news today?

Stellar Rumors

There has been no official announcement in Stellar news that would have pushed the cryptocurrency into the green, but there are rumors circulating, perhaps enough to boost investor confidence.

Nearly a month ago, Coinbase announced that it was considering adding five altcoins to its platform. The coins that were mentioned were Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), ZCash (ZEC), and 0x (ZRX).

One user on Twitter said that there was an email sent around three days ago that made them extremely bullish on Stellar but never disclosed the details of the email.

While these are both suspect, they’re still just rumors; it’s hard to say if they have any influence on the Stellar price today.

Facebook and Stellar

About an hour ago, however, Business Insider announced that Facebook is currently in talks with the Stellar Foundation. This could very well be the reason for the spike in price.

Today, David Marcus, Facebook’s blockchain lead, stated that he would be stepping down from the board of Coinbase. In recent months, he has met with various cryptocurrency projects—like Stellar—on how they could be integrated into the Facebook’s platform.

Facebook has been taking steps into the banking realm, and Stellar’s technology could help them with that.

“[Facebook would] be taking the rug out from under the banks,” an anonymous person from Stellar told Business Insider. “They can add a bank more quickly than a bank could build a social network.”

While these reports aren’t official, they may help to explain the spike in the digital currency today. We will see if Facebook or Stellar make any sort of official announcement on their talks or if this too will remain in the rumor mill.

At press time, Stellar (XLM) is trading at $0.229 a coin, up 7.77% in 24 hours.

>> Is it Game-Over for Bitcoin? This Wall Street Analyst Says Yes

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Stellar (XLM), Cardano (ADA), and TRON (TRX) Ride the Wave

The cryptocurrency market is seeing a lot of green today, as Bitcoin (BTC) continues to climb in price on its 10-day bull run. Bitcoin reached a price of over $8,200 today, the first time this has happened since mid-May. The rest of the altcoins in the 15 have followed suit and are all seeing percentage gains today. Let’s take a closer look at Stellar (XLM), Cardano (ADA), and TRON (TRX).

Stellar (XLM)

Last week, IBM announced that it would be supporting a new stable coin dubbed the ‘Stronghold USD.’ This new Tether competitor was launched on the Stellar network and has finally given investors insight as to what the working relationship between IBM and Stellar was all about.

IBM first initiated its partnership with Stellar Labs back in late 2017. Since the stable coin announcement, XLM has been on an upward trend. Currently, it sits as the sixth largest cryptocurrency by market cap.

At press time, Stellar (XLM) is trading at $0.300 a coin, up 5.47% in 24 hours. For the week, XLM is up 20.48% and for the month, the cryptocurrency is up 51.51%.

Cardano (ADA)

Charles Hoskinson, Cardano’s co-founder, is on the road again but has provided Cardano enthusiasts with a short update on Cardano’s latest developments.

Hoskinson addresses Prometheus, the backend toolbox that will power multiple wallets. ‘Project Prometheus’ is setting up its own team on this project and will ensure the properties of the platform are carried over for development of mobile wallets, light wallets, and embedded devices.

Hoskinson also informed investors about the Plutus project and says that the team has been growing rapidly. The Plutus team has active efforts being made to use complex computer languages to make Cardano bigger and better. The goal of Plutus is interoperability. In the video, Hoskinson also addresses sidechains and smart contract development on Cardano.

At press time, Cardano (ADA) is trading at $0.173 a coin, up 3.61% in 24 hours.

TRON (TRX)

News broke of Justin Sun acquiring BitTorrent around June 12th, but the project hadn’t officially confirmed it until today. As per Justin Sun’s tweet, BitTorrent holds over 100 million active members, and they are all now a part of the TRON ecosystem.

TRON (TRX) has been struggling on the market lately, but this news boosted its price a bit. TRON remains the 11th largest cryptocurrency by market cap. At press time, TRX is trading at $0.0377 a coin, up 8.91% in 24 hours.

>> TRON Confirms Acquisition of BitTorrent: Welcome to the Fam!

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