IniStellar (XLM) found 15-month low
Stellar Lumens, a glittering star in the crypto market last year, is a crypto project that competes with Ripple and makes great promises with the Blockchain service in the financial transfer area. Çıkan Sending money as sending mail tok with the slogan of the Stellar Tokur now is having a hard time. Stellar (XLM), whose market capital continues to melt, has slipped down to its lowest level in the last 15 months.
XLM slips toward back of listing
Among the crypto coins in the bear market, we see that Stellar is more wounded. A few months ago, the XLM was the 5th largest crypto-currency according to market capital, currently crossed by Tether, Litecoin and Tron, and fell to 9th place.
XLM, which declined 90 percent from the highest of all times, attracted investors’ attention with its current price of 0.083 dollars (2400 satoshi) and the lowest price of the last 15 months. We also see that Cardano lost more. But Stellar has become alarming due to the fall in the market capital ranking.
Stellar emerged as a variant of XRP, which is known as the central Ripple Token. XRP seems to be able to overcome this period of capital decline by maintaining its 2nd position. However, it has shown similar losses with the market since it reached its highest price.
Stellar development foundation continues its work
Like many teams in the crypto ecosystem, the Stellar team focused on products that would actively increase adaptation while taking the token price into account. One of them is known as the AnchorUSD product. AnchorUSD includes the first and completely seamless integration that allows users using any Stellar application to deposit dollars directly from their bank accounts. In addition to this, three new full version Stellar validator and a new multi-signature wallet were implemented on SatoshiPay.
As we reported earlier, Grayscale Investments added Lumens support to its platform earlier this month. These newly released Stellar Lumens mutual funds become the ninth crypto product of Grayscale. Other funds include Bitcoin, Ethereum and XRP. Another development, AlphaPoint, which is a network of more than 100 stock exchanges, Stellar announced last month.
Stellar Development Foundation continued its recruitment in software developers and partnership management positions in the down market, where large crypto companies such as ConsenSys, Blockfolio, Bitmain and Huobi have been recruiting personnel.
In addition to all these, we saw significant updates on the Stellar front. We can list them as new versions of the Stellar Core 10.1.0 and Horizon 0.15.4 platforms, as well as many new features added to the Interstellar exchange.
There are several other project updates and upcoming events for the coming weeks. That’s why it’s not enough to say that this team is busy.
To sum up, in light of the above-mentioned developments, there is no apparent reason for Stellar to decline at such a rate. In general, we can say that the foundation is busy developing its projects. Perhaps it is time to focus on the products of Stellar and other crypto projects.