Stellar (XLM) is being traded among the top 10 cryptocurrencies for quite some time now, but it seems that XLM hasn’t been doing that well lately although it is still being traded among the top ten digital assets in accordance with the global coin ranking list. This is the case because despite the market trend of having the majority of digital assets having been traded in the green, Stellar was having a rough time trying to adapt its level of volatility to the market demands. On the other hand, XLM started to trade in the green as of the latest case, although with only a couple of minor rises in the last 48 hours. Let’s see how Stellar has been doing lately.
Stellar and the Listing on Bitfinex
One of the things that made Stellar (XLM) trade in the green as what could be marked as the last moment of the potential massive rebound, is the fact that XLM just got listed with Bitfinex. Bitfinex decided to add a couple of currencies to its list of live traded cryptos.
That is how Stellar got added to the listing along with Bitcoin Interest, which is another one of many forks of Bitcoins. Besides from XLM and Bitcoin Interest, Bitfinex, one of the most popular exchange markets in the crypto industry, has also added Verge.
Having a coin added to a listing is never a bad thing, and that is how XLM easily got more exposure with getting listed on this exchange platform, that way making Stellar more available to investors.
This case is perhaps the main reason why we saw XLM rising up against the dollar for the last two days, until this very moment when Stellar dropped against the dollar as well as against Bitcoin.
Given the fact that Stellar is a platform with a massive potential for financial services, it is a bit odd that investors are not taking a greater interest in this digital asset. Whichever the case, it is a commonly known fact that technological capabilities of a certain asset are sometimes valued less than some other factors when it comes to deciding which coin or token you would rather invest in.
In addition to getting increased exposure thanks to the listing on Bitfinex, Stellar (XLM) seems to be pretty quiet when it comes to social involvement with the XLM community. In case Stellar team would want to additionally increase their exposure, which could further contribute to an increased volume of trading, they would need to engage their followers and holders.
With nearly 70.000 followers only on Twitter, Stellar has a massive audience that holds a massive potential for raising the level of exposure of this coin.
Stellar and the Market
Even though the last week was in the sign of trading up against the dollar for the majority of cryptocurrencies, it seems that this trend didn’t catch on Stellar. This is the case because Stellar didn’t show the expected rise in the market, while it was being traded in the red despite expectations.
However, XLM managed to rise up against the dollar, even though the mentioned rise wasn’t as radical as it potentially could have been.
The initial rise can be prescribed to the fact that Stellar just got listed on Bitfinex nearly two days ago, along with two other currencies, Bitcoin Interest and Verge, which is getting more on its popularity in the last couple of months.
Moreover on Stellar’s status in the market, after the latest change, XLM started to trade in the red once again while dropping against the dollar. During the last 12 hours, Stellar has had a drop of -2.07% against the dollar, while it is also going down against Bitcoin.
With the latest change in the market, Stellar is being traded down against BTC by 3.37%, which means that Bitcoin is doing more than slightly better than XLM.
Following the latest change, Stellar (XLM) price dropped, which means that XLM is currently being traded at 0.42$ per one unit.
What people are probably missing in this story is that Stellar showed a certain level of stability in the crypto market by slowly rising and not dropping far away from its all-time high even when all other currencies were rising up against the dollar.
That means that even if holders decide to earn some profit from the most recent increases, Stellar won’t lose much of its value in case this scenario takes place in the market.
Stellar (XLM) made its record price back in January when it was trading at the value of around 0.85$, which is not that far from its current price of 0.42$ per one unit, even despite the most recent drops and a mildly frustrating last week.