Stellar Lumens is well-known for its stability in the crypto world. They have managed to grab some headline-worthy deals to uplift themselves and improve the society on a whole. The biggest of the partnerships include the revolutionary vision between Stellar and IBM, Stellar and Kin Foundation and the latest being the backup by Nasdaq to name a few.
They have been doing well even in terms of market value and other related activities. One of their recent posts revealed:
“>2 billion XLM distributed to bitcoin holders during last year’s campaign from AUG to OCT 2017 out of a total of 8.13B Lumens distributed so far. 18.57B XLM are now openly held or use for payments and trading among over 400,000 holders.”
Late in March last year, Stellar Lumens had announced their distribution of 16 billion Lumens to Bitcoin holders as part of Stellar.org’s commitment to reserve 19% of the initial Lumens. According to their claims, this was because Bitcoin was a profound inspiration to them during their first Stellar designing.
Their older statements express:
“The Bitcoin network was the first to show that it’s possible for a group of untrusted parties to agree on a common database, and the Bitcoin community still influences our understanding of this technology’s impact.”
chikunGoboom, a Twitterati questions:
“Charlie do have an opinion of stellar? Do you consider them competition?”
Lumens with a market cap of $5.27 billion is at the 8th position with Cardano and Litecoin just above it with some close figures. Lumens has not budged from its position and had balanced its prices during crashes and shoot-ups. When observed, XLM has had a neutral fluctuation since yesterday with 2.16% gain and 1.18% fall from the past hour.
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Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump
The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.
At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96 million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.
According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.
Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.
Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.
At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.
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