Get the Finder app 🥳

Track your credit score

Free

Stellar price analysis 13 September: XLM value lifts, resisting market downturn

Posted: 13 September 2018 3:39 am
News

Stellar's token saw a sharp price hike following business acquisition.

Key takeaways

  • Stellar Lumens' digital currency continues to move northward, dispelling overall market sentiment.
  • Trading volumes have seen a significant pick-up since yesterday, rising almost one third.
  • Chain has been acquired by Lightyear Corporation, a Stellar-backed commercial entity, to form Interstellar.

Stellar has been on a tear over the last 24 hours. The cryptocurrency is surging ahead of market competitors, enjoying a healthy price increase against both the US dollar (7.56%) and bitcoin (7.19%) as of press time.

After trading at US$0.206 on 11 September, the token's value fell to a low of US$0.186 during the early hours of 12 September before gaining momentum and rising back up to US$0.203. Can it defend the US$0.200 mark?

Stellar

Stellar Lumens' XLM token has successfully curved the market's current downturn. Most digital currencies have suffered price losses in trading today. However, bitcoin, XRP and Dogecoin also remain in the green, bucking the trend.

At the time of writing, XLM was valued at US$0.200.

24-hour trading volumes rose from US$77 million to US$99 million, up almost one third (28%) day-on-day.

Cryptovest suggests buying volume has begun increasing as traders flock to XLM as a safe haven for funds.

Chain and Lightyear merge to form Interstellar

Stellar Lumens is a token issuance and international payments-focused cryptocurrency and Chain is/was a builder of cryptographic products for use on decentralised ledgers. Together they are now Interstellar.

The nitty-gritty of the deal is that Stellar-backed commercial arm Lightyear acquired Chain to merge with it. Both the Lightyear and Chain brand names will be retired and replaced with Interstellar. The upshot of the deal is that Chain, along with some existing clients and services, will be moving onto the Stellar blockchain. Stellar will receive several new tools for businesses, enabling additional potential for real-world adoption.

Stellar, listed in the top ten coins by market capitalisation, recently eclipsed 1 million network accounts.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Crypto explained


Latest cryptocurrency news

Picture: Shutterstock

Latest crypto guides

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site