Stellar (XLM), Icon (ICX) and EOS: Altcoins in a Sea of Red

The crypto markets are struggling this Wednesday morning. Most coins are flashing red, including Stellar (XLM) and Icon (ICX). Meanwhile, in a sea of red, EOS finds itself up nearly 5% in the past twenty-four hours.

Even though there’s a lot to say about the crypto markets this morning, we’re going to focus primarily on Stellar (XLM), Icon (ICX), and EOS.

Stellar (XLM)

Stellar (XLM) is currently selling for $0.338987. This puts XLM down 13.67% in the past twenty-four hours.

Source: CoinMarketCap

With that being said, there doesn’t appear to be a specific reason for Stellar (XLM) to be down more than 10% in the past twenty-four hours. I don’t suspect this result is going to throw crypto investors off, though. Why? Because Stellar has a lot to look forward too, and there have been multiple reports which state Stellar (XLM) will see a steady rise before the end of the month.

Again, why? Well, for starters, Stellar just finished its 6th Build Challenge. Not to mention, the platform will be hosting a blockchain event next week in Dubai on May 1. People have offered that this blockchain event will cause the Stellar (XLM) price to increase. Meanwhile, other reports have written that Stellar (XLM) will finish April sTron (available on Binance)g, due to the fundamental collaboration of the coin with Novatti and IBM.

Which direction do you think Stellar (XLM) will take in May?

Icon (ICX)

This is a coin that surprised me today. Icon (ICX) was doing well yesterday, mostly because of the news going around that it will be launching a blockchain incubator soon. Also, Icon announced yesterday its first ever community airdrop. Despite those announcements, Icon (ICX) is down more than 10% in the past twenty-four hours.

Icon (ICX) is currently selling for $3.72, which puts the coin down 11.87% in the past twenty-four hours. The coin has a market cap of less than 2 billion.

Source: CoinMarketCap

EOS

Out of the top ten coins on CoinMarketCap, EOS is the only one seeing green today. EOS is currently selling for $14.23, which puts the coin up 4.28% in the past twenty-four hours. EOS is the fifth largest cryptocurrency, with a market cap of $11.62 billion.

Source: CoinMarketCap

As we approach the end of April, we are one step closer to EOS moving from the Ethereum (available on Coinbase) network to its own. The move is scheduled for June 2, 2018. Perhaps this is one of the reasons EOS is in the green zone today. Further, EOS was trading up yesterday, due to the news that Coinone has listed EOS for trading against KRW. For those who don’t know, Coinone is a large South Korean exchange.

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