Most of the cryptocurrency market remained quite stagnant in price fluctuations throughout the day. Most coins were only seeing minor gains/losses aside from Litecoin (available on Coinbase) (LTC). However, as the working day comes to a close, two top coins are seeing major losses, and many are scratching their heads.
Stellar (XLM) has a lightning fast cross-border payments system and is set to be a sTron (available on Binance)g contender for the coin of the year, with a sTron (available on Binance)g support group. However, the coin is losing some major steam on the market today. Lisk (LSK) just rebranded today, yet its price is steadily dropping – but why?
Stellar (XLM)
Souce: CoinMarketCap
The Stellar team has yet to provide its loyalists with any update in regards to its future upgrades or partnerships. Since the coin’s value comes merely from its usability, have XLM’s followers lost faith in the coin? A Stellar holder and loyalist by the name of ‘Crypt0W0rld01’ posted five hours ago on a Bitcoin (available on Coinbase) talk forum and said:
“It really wouldn’t kill Stellar to maybe provide some updates every now and then. Maybe a peek at what’s being worked on, partnerships being pursued, etc. I’m not saying I want this to turn into Tron (available on Binance) or Ripple (available on Binance) where every week is another pointless announcement just to excite the market. The roadmap was witty, I got a good laugh out of it, but it’s not surprising to see a lot of investors getting frustrated and jumping ship. Everyone is left in the dark right now. No one has a clue what the team is working on, partnerships they’re solidifying, etc. Who knows, this could all be by design.”
That was just one of many similar comments. It remains unknown what the actual cause was of this price plummet, as it very well could be that it’s just falling like the rest of them because of panic selling. However, these loyalists have spoken, and they demand answers.
At press time, Stellar Lumens are trading for $0.38 a coin, down -13.74%.