- Stellar Lumens (XLM) is heading south after amassing considering gains yesterday
- The bears are currently in control of the digital currency market
Stellar Lumens News Today – So far this year, the performance of Stellar Lumens has been somewhat impressive. The digital currency has fought its way to the 10 positions on the list of top digital currencies by market cap. Just yesterday, Stellar Lumens (XLM) was one of the top-performing digital currencies for the day. It was one of the few coins among the top twenty that was deep in the green. However, today, the price of Stellar Lumens (XLM) has dropped by about 5 percent. At the press time, the digital currency is changing hands at $0.077.
Stellar Token Burn Sentiments Wear Off
Last week, Stellar Lumens was the trending topic in the crypto space due to the recent token burn on the network. The Stellar Development Foundation burnt over 50 percent of the total supply of XLM. The burn had a slight impact on the price of XLM, as it surged by more than 25 percent in less than 48 hours. During the controversial token burn, the price of the digital currency surged to almost $0.09, though the price rally was short-lived.
Stellar (XLM) Price Today – XLM / USD
A few days later, the digital currency market corrected and the price of Stellar Lumens (XLM) plunged to the $0.07 range, erasing all the gains it amassed. However, the last thirty days have been relatively solid for Stellar Lumens. The price of the digital currency got a boost earlier this month when it was listed on Coincheck – a Japanese digital currency trading platform. Coincheck was a victim of a multi-million-dollar hack back in January last year. The history of the digital currency trading platform had no negative effect on the sentiment of traders for Stellar Lumens (XLM), as the price of the digital currency surged from $0.065 to $0.07.
Top Cryptos Continue to Head South
The digital currency market seems to be under the control of the bears, as the majority of coins in the market are deep in the red. Most of the top coins in the market are bleeding and Bitcoin (BTC) is not an exception. Bitcoin (BTC) has continued to head south since it plunged below the $9k level. At the press time, Bitcoin (BTC) is trading around the $8,750 range, and it is down by about one percent over the past twenty-four hours.
Ethereum (ETH) is also heading south, with a decrease of about 2 percent over the past twenty-four hours. Ether is currently trading at $186. The only digital currency that is in the greed among the top ten coins is Binance Coin (BNB). BNB is up by about 3 percent over the past day.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she’s not writing, she spends time with her adorable cat, Ginger and works out often.