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At present there is not an excessive price action on the cryptocurrency markets. Bitcoin it is firmly in the green but most of the other markets note minor gains in the last few hours. An interesting development comes in the form of the XLM price, given that Stellar Lumens once again surpassed the Litecoin market.
The increase in the price of XLM seems legitimate
Whenever the price of Bitcoin tends to gain some value, one must ask how all the alternative markets will react. More often than not, the markets will turn green in terms of gains in USD, but lose the value of BTC in the process. As a result, there is an almost status quo that does not allow many different trading options. In case of XLMthere are solid gains in both departments, which is quite promising.
In the last 24 hours, the XLM price has risen by over 6.5% in USD. As such, an XLM is currently valued at $ 0.1219, with a push at $ 0.125 which seems quite plausible at this stage. There is also a 2% improvement in the XLM / BTC ratio, which drives the value of Lumen Stellar to more than 3,000 Satoshi once again. Solid gains across the board seem to confirm that this uptrend is legitimate rather than a straw fire.
According to the Huobi research team, this rise in the price of the XLM should not be a complete surprise. Although Stellar Lumens is not among the top five of the most controversial cryptocurrencies on Telegram, his sentiment index is out of scale right now. Based on this statistic alone, this price surge could be in the early stages.
Today the top 5 cryptocurrency discussed most on Telegram is 1.#BTC 2.#ETH 3.#LTC 4.#TRX 5.#NEO
The coins with the highest sentiment index (highest score = most positive) are 1.#XLM 2.#POA 3.#CND 4.#APIS 5.#SC
See more data: https://t.co/Cu7brG8RoH– Huobi Research (@Huobi_Research) January 7, 2019
It is also important that users of Stellar Lumens are rather cautious about the newly announced StellarPay project. There's a real concern about Reddit about this XLM "fork", especially considering how the StellarActivity debacle eventually went down. There is always the possibility that this new offer is legitimate, although it is recommended that users always conduct their research first of all.
Beware of StellarPay, it's another Stellar scam like StellarActivity, Shade, Dolphin, this time they evolved, better web with better graphics (shitty logo, bad english), now they have a "team", no private key this time … #stellar #XLM #StellarLumens https://t.co/CJBme2XUMJ
– Andrej Bennár – Kaijleor (@AndrejBennar) January 7, 2019
Last but not least, it would seem that an in-depth technical analysis of the XLM pricing table could have shown to many people that this latest upward trend was just a matter of time. It has been a very interesting chart for XLM in recent days, although there is no indication as to what the momentum will be in the coming days. Supporting any upward trend has been very difficult over the past 10 months.
Many alts are struggling right now. However: very nice to see that at least XLM has taken off as expected. The 100eyes scanner identified this support area a few days ago and continued to point it out. Finally the profits are locked in 👍🏻#XLM #BTC #Bitcoin #crypto #cryptotrading pic.twitter.com/aJN5uBzTaX
– 100eyes Crypto Scanner (@ 100eyesCrypto) January 7, 2019
All signals point to a fairly healthy XLM price increase in the coming hours. Extending this momentum in days or even weeks will be a challenge of a completely different caliber. Even so, all markets take advantage of this recent surge in Bitcoin prices, so there is no reason to expect any real pressure unless the world's leading cryptocurrant vacillates once again.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
Picture (s): Shutterstock.com
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