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Trading volume, or volume, is the number of tokens purchased and sold that indicates the total activity of a token for a given period. Trade volume is a useful technical indicator that you can use to confirm a trend or trend reversal. Volume gives you an idea of the price of a token and whether you need to buy or sell the token.
Stellar Lumens is one of those rare projects that both have a fully functioning product and a clear use case that should ensure commercial adoption. However, the currency and the project failed to amaze, as the whole market still clashes with an apparent trend. The price of Coin related to Bitcoin is somewhat stagnated, and since the value of Bitcoin in dollars continues to fall, XLM has also experienced a slow bleeding in the value of the dollar.
Stellar is one of the best cryptocurrencies that is known for its low trading volume compared to its neighbors in the coinmarketcap rankings. XLM has registered only $ 99 million of transactions in the last 24 hours, an order of magnitude lower than its nearest competitor for the sixth place in the charts by market capitalization, Litecoin. Litecoin had a trade volume of nearly $ 900 million, not to mention the volumes that carried the coins thrown down into billions. The only coins with equally low trading volumes in the top 10 are the bitcoin fork with undeservedly high BSV classification (less than $ 70 million) and the Tron marketing stunt (around $ 166 million). So it's not a good company to associate.
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The problem is probably related to the lack of fiat couples, poor marketing and generally low or non-existent commercial use. XLM points to the large financial services market, but is facing a lot of resistance along the way. In addition to the general public who still prefers the banks and fiat for their financial operations, the rest of the people who are interested in cryptography seem to prefer XRP as their cryptocurrency of choice. As a further problem, the highly praised partnership with IBM has yet to begin to bear fruit for the project in terms of commercial adoption.
IBM will not be sufficient to ensure the widespread adoption of XLM, which is why the project is working hard to establish additional partnerships around the world. Projects such as Cross Hedge, REM Royalty, Swych, TillBilly, FlipNpik and many others have confirmed their intention to work with XLM.
The lack of more XLM / fiat pairs is also a headache for the XLM project and is one of the critical points identified by their community, along with the Stellar Foundation's poor marketing efforts.
Stellar is mostly in the shadow of his opponent of the use case, XRP, who built a strong social media army that is patrolling platforms and aggressively defending Ripple's currency, as well as letting it escape the trade and to companies for greater adoption. I'm not saying that XLM should do something similar as these intrusive XRP robots are counterproductive as they are useful; but SF should definitely put more resources into retail campaigns so that new entrants to the encrypted markets can have XLMs on their radars.
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The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice, nor does it replace the advice of a certified financial planner.
The opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
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