Looks like rough days are back for Stellar Lumens [XLM]. Irrespective of Stellar being in the news for all the good reasons like the shift of Irene Energy from Ethereum to Stellar, XLM accepted on Koinex and Stellar’s partnership with BluepanNet, it hasn’t made much difference in the market value of the coin. For a few hours post this news, there was a spike in value but it was short lived.
In addition to this, Stellar Lumens was in the limelight since it got listed in the 9th largest Cryptocurrency exchange platforms, HitBTC, a rapidly growing crypto asset for the Stellar payment network on the exchange.
Stellar has been crashing in the market for a while now and is becoming the next “troll” coin in the market for the same. The coin has dipped almost 27% and has continued to dip by an average of 1% for the past 3 hours. Stellar Lumens [XLM] is currently valued at $0.225 with a market cap of $4.17 billion.
Jake Higs, an XLM investor and crypto enthusiast says,
“XLM is going to the moon very soon baby. A lot of people trying to spread FUD in the XLM space. Not going to work here. Go back to your Bitcoin space.”
Rory Akens, a virtual investor says,
“Stellar is nothing but all mouth and no trousers. It’s ridiculous that people are even interested in this shitcoin.”
Aman Chawla, a Blockchain enthusiast commenting on HitBTC listing says,
“Insane fees, you cannot move coins off HITbtc. Avoid the website at all costs.”
Deepshan was slightly positive when he stated:
“Hey HitBTC is not that good but for Stellar, it is great to get more buyers.”
Karla Mckan, a virtual market speculator says,
“It seems like the whole XLM fam is dead. Nothing seems to excite them at all. Looks like it’s the end of Stellar for me.”
HitBTC doesn’t have a “good” reputation with users according to certain market analysts. Apart from HitBTC, XLM is trading on Binance, Upbit, Bittrex, Poloniex and many other major platforms with decent volumes. In the present scenario, there is no optimism or excitement to cheer up the market not only for Stellar but also for the general crypto markets.
Although market sentiments are bearish right now an earlier conversation with veteran cryptocurrency investors suggested that they believe Stellar Lumens has already hit bottom and it could probably go down to $0.19 at its worst but it will be all uphill from there. They believed that XLM could be one of the tokens to lead the bull run once the markets were out of the bearish grip.
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