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Stellar Lumens [XLM] running low on fuel? Price drops by 10%!

Arjun B



Stellar Lumens [XLM] running low on fuel? Price drops by 10%!
Source: SketchPort

Stellar Lumens has been welcoming a better run until Tuesday but now prices are going down. Stellar had managed to reach April month’s highest price point of $0.46. The negative growth has been building around the cryptocurrency market which has put Stellar Lumens’ prices to a decrease.

The present individual price for Stellar Lumens is close to $0.39 with a downward trend of 4.53%. Almost $37 million worth of lumens has been traded within past 24 hours.

The Stellar network was created back in 2014 because of the major difference between Jed McCaleb and Ripple. Ripple is focussed on providing solutions to banking systems, but Stellar Lumens wants to ease payments between people. The Stellar Lumens development foundation acts as a non-profit registered incorporated in Delaware.

Stellar lumens was created with a total number of 100 billion lumens. The annual supply of Stellar Lumens has been increasing by 1%. Stellar lumens is one among top ten cryptocurrency in the market which offers fast and cheap exchanges of transactions.

Stellar network is a decentralized distributed exchange which supports any sort of assets which are being used by the people. The ledger stores balance of the user’s account information and helps the user to buy or sell assets which he requires.

The Initial Coin Offering [ICO] which was built on the Stellar network has raised $30 million. MobileCoin is a privacy-based token on Stellar consensus protocol to reorganize mobile payments faster.

One of the largest cryptocurrency exchange in the market, Bitfinex had declared the initial launch of Stellar trading platform. Stellar lumens holds great significance to the Bitfinex platform. Despite this listing, the prices are continuing to fall.

The CEO of Bitfinex says:

“they are committed to expanding the reach of its traders and introducing Stella lumens is a result of that commitment.”

A crypto enthusiast comments over XRP/USDT addition on Binance:

“Yep upgraded lightning ready Stellar $XLM deserves to have USDT pairing way more than tired outdated old ripple”

A Twitterati says:

“These are high expectations, you sent a 5 year goal , what’s your 10 and 2 year goals ?”

Bill Hustle says:

“Sure it will Jed! How much is Mt. Gox worth now (your other project)?”

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Whale Alert: Massive $300 million transfer takes place on Binance Chain; funds SAFU, says CZ

Biraajmaan Tamuly



Whale Alert: Massive 300 million BNB Coin transfer takes place on the Binance Chain; CZ responds amidst transaction
Source: Pixabay

Binance, one of the world’s largest cryptocurrency exchanges, has been having a wonderful year in terms of new developments, such as their new Binance DEX and the massive growth of Binance Coin [BNB]. Binance’s native token has grown by approximately 500 percent in 2019 alone.

The exchange also recently announced the launch of BTCB, with an objective to provide a crypto-asset pegged to BTC’s value for trading purposes on Binance DEX, with the assets being backed by Binance itself.

Binance’s ecosystem is progressively active and it was recently observed and reported by Whale Alert, an online cryptocurrency-transaction tracker, that a sum of approximately $302 million, equivalent to around 8 million BNB coins, was transferred on the Binance Chain.

The transaction took place of 26th January 2019, with a time stamp of 07:52:56 UTC. It was sent from an unknown address, bnb1jkvrjawcd8wlugk8455wqjggxecyxj9uf0g7uy, to another unknown wallet, bnb13wmeg7ypkcr39wnzy2q02mku2qemnrm4kclezs, for a transaction fee of 0.000375 BNB. The block height of the transaction was #15820220, and it was deemed a successful one.

Following the massive transfer, Changpeng Zhao, CEO of Binance, responded on Twitter regarding the transfer and claimed that the current movement was a rotation of funds between some cold wallets.

CZ suggested with a linked tweet that the movement of funds should not necessarily raise any alarms as the funds were SAFU.

In another tweet, CZ  stated that there were currently 4 addresses that were holding 8 million BNB coins each. A total of $32 million BNB was unlocked for the Binance team. However, it was understood that the tokens were not spent and saved in the addresses themselves.

It is speculated that CZ took the initiative to list the reason for the massive transfer as previously, huge BTC transfers, which included a Coinbase wallet transfer, was accused of market manipulation.

At press time, BNB coin was priced at $37.30, experiencing a hike of 1.87 percent over the past 24 hours.

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