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Stellar Lumens [XLM] skyrockets by 30% in two days following logo redesign




Stellar Lumens [XLM] skyrockets 30% in two days following logo redesign
Source: Pixabay

Stellar Lumens has been performing splendidly in the second week of March 2019, with the coin shooting up by approximately 30% in 48 hours. Though the exact reason for the surge cannot be pinpointed, many enthusiasts have speculated that it was fueled by the coin’s redesign of its logo.

XLM’s price increased dramatically in a brutal bear market, causing many in the crypto-community to declare that the “alt-coin season” had arrived. On March 8, 2019, the price of XLM hit its long-standing support at $0.08. However, the bulls defended this level and overcame the bearish pressure to start a rally soon after.

Source: TradingView

The aforementioned rally continued, pushing the price to $0.11, and amounting to an increase of 30.47%. The market cap of XLM increased by $300 million and reached $2.06 billion.

The price went into a correction phase as it dropped to $0.09 [i.e. a correction of 9.14%] and rallied again to form a double top pattern, which is a bearish reversal pattern.

The crypto-community speculated that the reason for this dramatic rise was Stellar Org’s new development, a new logo.

The Stellar Development Foundation put out a blog explaining the details that went into revamping the logo of Stellar Lumens. The blog said that the old logo was a cartoon rocket ship which wasn’t appropriate for use by central banks or a press release.

Source: Medium Blog | Stellar

After bidding adieu to the old logo, the blog stated,

“It’s [the new Stellar logo] got resonance with our “S”; it’s got just a hint of Saturn in there; and it can work in copy as a currency symbol… While we needed to completely refresh the logo, we wanted the new Stellar wordmark to be more familiar to our established community.”

The redesign of the brand will be officially launched on in May 2019, according to the blog.

@TelTuna, a Twitter user, commented,

“People complain about the logo !! Don’t miss the point of change in the logo here !!! $xlm would have also been forced to change the logo since it is getting real and of course central banks or national monetary authority wouldn’t want a rocket ship in their advertisement.”

@EErnito, another Twitter user, commented,

“Nooooooooooooooo 😪😱💔 The new logo is just as soulless as all the others… Bye bye, rocketship. 👋”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


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

Namrata Shukla



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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