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Stellar Lumens [XLM] turns green after last week’s bottom and the new wallet update!

Sthuthie Murthy

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Stellar Lumens [XLM] finally turns green
Source: Public Domain Pictures

Stellar Lumens [XLM] has seen a strong market focus over the past few days and has seen XLM’s value going up over the past 7 days. XLM was priced at $0.3909 as seen at press time and is ranked 8th on coinmarketcap.

Binance, Upbit, and Poloniex are the top-ranked exchanges where XLM is traded with a market capitalization of $7.1 billion currently.

The stellar network is the native asset of Lumens, more specifically; Lumens are built into the stellar network. This makes up a unit of digital currency. Users can only exert digital ownership of these assets with a private key and they cannot be held physically.

The biggest confusion is between the networks and token itself as it was called STR before being renamed to XLM. Another myth is that this network needs no native asset. This myth is busted because Lumens are designed to prevent transaction spam on the network and additionally all accounts must have a minimum of 20 XLM’s in their balance at every point in time.

Anthony Barker, XLM tokens holder tweeted:

“My favorite zero fee way to get money while traveling in Philippines. Funded my account using tempo and the Stellar Blockchain and then card less withdrawal at an ATM.”

Charlton Henry a Twitter user and a market analyst quoted:

“It is heartwarming to see XLM in the green zone today. Amazing things are on the horizon for Stellar XLM.”

Michael Kenny, an attendee of the Tel Aviv Conference stated:

“XLM has started to move up; whales are accumulating after pushing down the price in the past few days.”

Eduardo Lima, a Twitterati says,

“Don’t really care if the price goes up. Just want to create more liquidity in my favorite cryptos (remember ladies and gents, your crypto ain’t worth jack if people don’t use it)”

Stellar’s new wallet update and the “confirmation” of a bottom have some market investors believe that this is the time that Stellar might strike back especially after the links to download their Pre-Release Wallet was given to the investors.





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Altcoins

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

Biraajmaan Tamuly

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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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