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Stellar Lumens [XLM] feels the brunt of the bear; cryptocurrency market sees red

Akash Anand

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Stellar Lumens [XLM] feels the brunt of the bear; cryptocurrency market sees red
Source: Unsplash

The cryptocurrency markets opened today, 9th October, to a bearish spread which was reversed towards the end of the day. The bear’s grip was felt by almost all the cryptocurrencies including popular coins like XRP, Bitcoin Cash [BCH] and Stellar Lumens [XLM]. The market showed a shift in behavior from the previous day when a majority of the cryptocurrencies were riding the bull.

Stellar Lumens [XLM] had also witnessed a major change a few days back when the cryptocurrency jumped over EOS to become the 5th biggest cryptocurrency by market cap. Although the difference was only a $100 million, the past 24-hour pump of 26% has given the XLM investors something to brag about.

At the time of writing, XLM was falling at the rate of 0.81% and was trading for $0.245. The cryptocurrency was holding a market cap of $4.630 billion with a 24-hour market volume of $45.282 million. The majority of Stellar Lumens trade was coming in from Binance, with a total trade volume of $8.813 million. Binance was closely followed by BitMart which encompassed $5.759 million of the total XLM trade. Stellar had recently set a new milestone where the cryptocurrency recorded 1 million accounts on their ledger.



Stellar Lumens 24-hour chart | Source: CoinMarketCap

Stellar Lumens 24-hour chart | Source: CoinMarketCap

Stellar’s recent achievements include acquiring Chain, a San Francisco based start-up building blockchain technology for the financial industry. The data showed that the trading figures had drastically reduced by 95.5% in over two months.

Recently, China’s biggest exchange platform Huobi had started trading XLM on their platform. Additionally, IBM the technology giant confirmed that Stellar’s digital asset will be used by some of the biggest banks in foreign exchange corridors.





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

Altcoins

Tron DApp Weekly Report: Gambling apps leads the surge in Tron DApp numbers

Namrata Shukla

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Tron DApp Weekly Report: Tron DApps number led by Gambling apps
Source: Pixabay

Tron, the eleventh largest cryptocurrency on CoinMarketCap, recently collaborated with Bitpie, a partnership that would help startups to bridge the gap in vulnerable financial systems. Tron’s token might be lagging in terms of performance in the market but, Tron DApps continued to surge.

The DApp weekly report released by the Tron Foundation reported an increase of 22 DApps in the Tron ecosystem, taking the total to 392. It noted that gambling DApps mainly contributed to this growth as 17 DApps were gambling-based. Decentralized exchanges followed suit, as 3 new DApps made their way into the Tron DApp ecosystem. The main highlight for the entire Tron community was the partnership with Opera, a mainstream browser.

Tron introduced a DApp ‘Lucky Moon,’ an entertainment-based DApp that pushes users to estimate the current time to run away from the imploding rocket with a specific reward rate. As the rocket takes-off, the reward rate keeps increasing and the player will have to escape at the right time. An extension of this game is ‘Tyrant Annihilation,’ where users need to collect seven types of equipment to kill a tyrant. The DApp might have taken inspiration from The Avengers.



The report made note of the fact that the Tron public chain received support from Aocoin wallet, a decentralized secure digital currency wallet. My Token, a software company that specializes in market information has been integrated into Tronscan and TRX market, leading the way to user traffic in DApps ecosystem.

At press time, Tron was valued at $0.0283 with a market cap of $1.89 billion. The 24-hour trading volume of the coin was noted to be $690.34 as it reported 6.36% growth over the past day. The coin grew by 8.80% over the past seven days, but fell by 0.44% in an hour.





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