Stellar News And Price Analysis: Stellar To Overtake Litecoin By Market Cap. Saturday, August 4
Important Stellar News
Stellar To Surpass Litecoin
When it comes to cryptocurrencies, there have always been the three giants: Bitcoin, Ethereum and Litecoin. They are one of the oldest cryptocurrencies, and ones of the best prospering. With Bitcoin being compared to gold, Litecoin has been claimed by many to be the silver. However, even though the fame remained, the place has been already overtaken by multiple currencies. It's therefore interesting to see it fall even further and to see a new project climb up in the list based on the total market cap.
Stellar's market cap has just exceeded $4,500,000,000 with the Lumen token XLM trading currently around $0.24.
Coinbase Custody To Consider Stellar
Coinbase Custody is a custodial service for institutional investors designed to give clients a highly secure way to store large amounts of cryptocurrency. The announcement says: "Coinbase Custody is exploring the addition of many existing and forthcoming crypto assets for storage only, and will be working to add them as quickly and safely as possible. At this time, we have not yet considered these assets for trading." Mentioning the XLM may mean that they have noticed an interest of influential investors who are looking for secure ways to store larger amounts of Lumens.
XLM Price Analysis
XLM seems currently to be falling down. There may be two main factors which cause this price decrease. First thing, is that there has been a lot of happening around Stellar in past month and the price has been simply pumped by the positive news, investors and traders looking for quick money. Therefore, a correction was about to happen. The second thing, which adds to the rapid decrease is the negative market movement of the whole cryptocurrency market. This has caused XLM to fall -8.62% in last 24 hours and it may go even lower. It is currently trading slightly below $0.24. And the 24 hours volume is more than $60,000,000.
XLM/USD Price Chart, Saturday August 4th:
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