Weekends are usually not the most interesting period for cryptocurrency trading. More often than not, the markets go through another massive correction. This weekend is shaping up a bit differently so far, although no conclusions should be drawn at this time. In the case of Stellar price, things are looking quite good, at least for the time being.
Stellar Price Reaches for $0.12
Although Stellar Lumens are not one’s typical cryptocurrency by any means, the project itself is quite successful. It has been following a path very similar to XRP, even though it doesn’t necessarily have the branding of that asset either. For the time being. Both projects are valued entirely differently, albeit they both reside within the market cap top 5 at this time.
Over the past 24 hours, there has been a notable XLM price increase in both USD and BTC value. Courtesy of a 7.3% gain in USD value and a 4.2% gain on Bitcoin, the XLM price is now at $0.118 again. Whether or not it can push through to $0.12 or will drop to the low $0.11 range again, is a different matter altogether.
Although there isn’t too much debate going on regarding Stellar Lumens right now, most of the discussions pertain to the XLM price. RodolfFlocon successfully made some profit by buying XLM on the cheap and selling it for marginal profit. It is evident small gains can also add up to bigger profits along the way, and any profit is still better than a net loss.
— rAlf (@RaphaelFlocon) December 8, 2018
The current surge of XLM has not gone by unnoticed by any means, which is only to be expected. CoinAlert has already notified subscribers of this “signals group” regarding the price movements ahead. It is evident these groups can be worthwhile now and then, although most people with common sense expected a small bounce for all top markets.
There is also an interesting opportunity to explore on the Bitfinex exchange. Considering how the XLM price has surged by 175% on this exchange in the hours prior, it is quite interesting to see how easily some markets can be manipulated these days. This value has normalized and is now on the same level of other exchanges again, which is good to see.
As is always the case in the world of cryptocurrency and digital assets, a market retrace can occur as quickly as it materializes. Stellar Lumens is no exception to this unwritten rule by any means, although the current trend may remain in place for a few hours. That doesn’t mean all currencies are out of the woods yet, as the overall sentiment remains incredibly bearish first and foremost.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.