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Stellar (XLM) Outperforms After the Fall Earlier This Week

Stellar (XLM) is outperforming the broader crypto market on the technical rebound.

The world of cryptocurrencies can often prove to be a bit of wild ride sometimes, and it is especially so after the sort of week that has been unleashed on the crypto sphere. Many of the top cryptocurrencies declined yesterday after the comments from the head of the Federal Reserve Jerome Powell about Facebook’s Libra.

Stellar Outperforms

During the bloodbath yesterday, Stellar (XLM) dropped just like many other tokens, and at one point went down by as much as 14%. However, Stellar managed to make a turnaround today and managed to record substantial gains and remains one of the biggest gainers today among altcoins. The price of Stellar rose to $0.09861, up by 9.70%, according to the data that was available from the leading crypto exchanges.

Currently, Stellar is the 11th biggest cryptocurrency in the world in terms of market capitalization, and the total number of XLM tokens that are currently in supply stands at 19.43 billion. During today’s considerable spike in price, the total traded volume of XLM reached $505.56 million over the past 24 hours, and for all those who currently hold XLM, it is definitely an important development.

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The theme for many cryptocurrencies this year has been about the use case and whether it is going to get any attention from institutional investors. In this regard, it needs to be pointed out that Stellar has already made a highly important partnership with tech behemoth IBM, and due to the potential of blockchain technology in the near future, it’s speculated that this particular partnership could bring rich dividends for the cryptocurrency.

However, as the number of partnerships starts rising, it is almost certain to have a big impact on the cryptocurrency’s price. However, among many experts, there is one concern with regards to Stellar, and that is the suspected centralized nature of the token. However, if it manages to keep forging partnerships, then it could manage to bring hefty returns for its holders.

Featured image: DepositPhotos © kongvector

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Stellar vs. TRON | Is There Really Any Competition?

Stellar vs. TRON—the debate all started with an interview. Jeb McCaleb, a co-founder of Stellar (XLM) and founder and former CTO of Ripple, interviewed with Yahoo Finance on New Year’s Eve. During the interview, the crypto pioneer mostly answered questions about Stellar but didn’t shy at taking jabs at other projects outside of Ethereum (ETH), Bitcoin (BTC) and XLM—specifically TRON (TRX).

Stellar (XLM) vs. TRON (TRX)

McCaleb wasn’t necessarily comparing the two projects, hand-for-hand. Considering Stellar is a more centralized project, and TRON is decentralized focusing specifically on dApps.

The Stellar (XLM) co-founder was asked about the general ‘temperature’ in the crypto industry now and what he took away from the past few years. McCaleb states that he was amazed by how “hype-driven” the industry has become.

“The allocation of capital and resources is wild to watch, when these projects that have zero technical merit get millions of dollars,” McCaleb explained.

McCaleb continued:

“It seems like a big shame. Hopefully, that will start to change. One of the nice things that comes with the market calming down—I still say it’s not a bear market—it means there’s less of that. Ninety percent of these projects are B.S. I’m looking forward to that changing. Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work.”

Ouch.

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There was no way TRON (TRX) enthusiasts were going to let that one slide. Some even went as far as compiling the transaction figures comparing TRON and Stellar.

Even TRON’s founder, Justin Sun, responded to reports of McCaleb’s interview.

No matter what project you prefer, the transaction numbers don’t lie. TRON (TRX) is completing far more transactions than Stellar (XLM).

On the flip side to combat Sun’s point, applications can be built on top of the Stellar Network. While they aren’t decentralized, the network can be utilized for much more than just monetary transactions.

To compare the two projects fundamentally would be silly, as they are built entirely different and built for different things. Whether they’re both functional or not is another story.

Stellar (XLM) and TRON (TRX) Movement

According to CoinMarketCap, XLM is currently trading at $0.11 a coin, up 2.03%. It remains the sixth-largest cryptocurrency by total market cap. TRX is currently trading at $0.019 a coin, up 4.98% in 24 hours. TRON remains the 10th largest cryptocurrency by total market cap.

Featured Image: Depositphotos/belchonock

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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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Cryptos in Red | Ethereum (ETH), Ripple (XRP), and Stellar (XLM)

Well is anyone truly surprised that last week’s crypto bull-run is over? There are cryptos in red today across the board. About 95% of the coinmarketcap.com’s top 100 list to be more precise, but we’re interested in the real losers. The top dog’s who are also today’s top losers, including Ethereum (ETH), Stellar (XLM), and Ripple (XRP).

Let’s check in with these cryptos in red.

Cryptos in Red: Ethereum (ETH)

Saturday saw Ethereum reach a high of $251.20. But it has been downhill from there. In the past 24-hours, ETH has made a further 10.32% drop. It is now practically at the same level it was before it began climbing last week. No exact catalyst is driving ETH price today, more than likely this fall is the “must come down” part of the phrase that starts with “What goes up…

Cryptos in Red: Ripple (XRP)

It was inevitable that Ripple would not be able to maintain such highs.

Let’s recap last week: last week, Ripple doubled its value in a 48-hour period. It hit a height it had never hit before—$0.69, which meant the coin had grown over 100%. The reason for the XRP price explosion could be attributed to Ripple Lab’s unveiling that its xRapid project could debut within a month. This seemed to spur on a rally. Importantly it had a knock-on effect on the market; cryptos were green across the board.

But alas, our biggest gainer then is our biggest loser now. XRP has lost 14.43% in the last 24-hours. However, if it can level off sooner rather than later, the coin will still have gained overall this month. Let’s hope investors keep hodling.

Cryptos in Red: Stellar (XLM)

Stellar tends to follow closely behind Ripple trends. Today is no different. The coin is currently down 10.71% and appears to be losing more. It did grow exponentially last week keeping closely by Ripple’s side so can it pare any of these losses?

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Back in March, Stellar announced it would be implementing the Lightning protocol this December. According to the team, it is still on track for that deadline, and this news should excite investors. The Lightning protocol is deemed to be the best long-term solution for scalability on its network. Stellar wants to improve the user’s experience in terms of speed, throughput, and privacy/security.

It seems like crypto is playing a cruel trick sometimes. It seems inevitable that when cryptos go green, there will soon be cryptos in red.

Featured Image: Depositphotos/© Paulpaladin

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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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