Stellar Lumens [XLM] stays strong in bearish market

Stellar Lumens continues to rise in value as Bitcoin [BTC] and various other altcoins drop. It boasted the highest growth percentage in the last 24 hours among the top 15 most traded cryptos, with a growth rate of 7.89%. It also exhibited a strong growth over the week, at a rate of 8.01%.

These developments come after MobileCoin raised $30million in Bitcoin [BTC] and Ethereum [ETH] on popular cryptocurrency exchange platform Binance.

MobileCoin is a privacy-based, mobile-first token that aims to streamline mobile transactions. MobileCoin is based on Stellar’s Stellar Consensus Protocol, which led to a rise of interest in Stellar’s currency. A developer of privacy-focused app Signal, Moxie Marlinspike is a part of the core team behind the effort. MobileCoin decided to use this protocol for the speed and scalability of Lumens.

Stellar Lumens is competing with Cardano [ADA] for the 7th spot in the market, with an overall market cap of $6.9 billion to Cardano’s $7.1 billion. XLM value is at $0.37 at press time. After yesterday’s market crash, it dropped from $0.40, which was the highest value since the beginning of February, back to $0.37. It continues to oscillate between $0.30 and $0.40.

Public sentiment for Lumens continues to ride high, with a flurry of partnerships over the past few months. Their recent partnership with Novatti Group, global software technology, and systems integration provider, has created a lot of discussion in the Twittersphere.


Twitterati, Marcin says:

“I hope there will be more same great and exiting news in next couple of days”

Redditor, NickGBreeze says:

“From a purely pragmatic pov, Stellar is the best looking solution to a lot of real world problems that Btc and eth seeming to be reverse engineering themselves to overcome.”

Redditor, SunDanceWay says:

“Looks like the cup and handle have formed….get ready”

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