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Stellar Lumens [XLM] falls by 8.32%; Tether [USDT] take over fourth position

Namrata Shukla

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Stellar Lumens [XLM] falls by 8.32%; Tether [USDT] take over fourth position
Source: Unsplash


Stellar [XLM] which ranked fourth on the CoinMarketCap until December 14, has slipped to the fifth position. This slip provided the stable coin, Tether [USDT] to take over the fourth position.

Source: CoinMarketCap

At the time of press, Stellar was valued at $0.0953 with a market cap $1.8 billion. The coin registered a 24-hour trade volume of $83 million and it slipped by 8.32% within 24 hours, at the time of press. The coin noted an overall fall of 19.29%.

According to the maximum trading volume of the coin, Bibox reported the highest volume of $23.5 million with LTC/BTC pair. Bibox followed itself and registered second highest trading volume of $22.7 million with LTC/ETH pair. Bibox was followed by $21.9 million with LTC/USDT.

Tether, the stable coin was trading at $1 with a market cap of $1.85 billion and had plunged by 0.19% and is seen to maintain its standing.

Source: Trading view

Source: Trading view

When the coin started to fall, it broke previous support and a new support was seen to form at $0.0963. The coin was valued at $0.9057 at the beginning of the year, which was the highest it was ever valued at. However, the coin has been gradually falling and it doesn’t seem to stop.

Recently, Tron [TRX] had surpassed Stellar in terms of trading volume. It was informed by Tron, Chief Executive Officer and founder of the Tron Foundation, Justin Sun in a twitter post. Sun tweeted:

“According to @CoinMarketCap, there are 159 trading pairs of #TRON which already surpassed 157 trading pairs of Stellar. #TRX was already listed on more than 100 exchanges, including Crypto/Crypto & Crypto/ Fiat trading pairs. $TRX”

However, a glimpse of happiness was seen for the coin on December 13, when CoinField, a prominent Canadian cryptocurrency exchange announced that they were launching Stellar on the platform as an XRP base pair. The XLM/XRP pair will be available alongside six different fiat pairings like USD, CAD, EUR, GBP, JPY, and AED.





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