Most of the cryptocurrency market, besides a few, is in the red as Saturday comes to a close.
Monero (XMR)
Monero had a solid run towards the end of the week and leading into the weekend, but has since corrected. Friday, the coin had jumped nearly 20% in 24 hours time, reaching a high of $373.68. Monero hadn’t reached that price point since late-January of this year.
News broke [1]that there would be a hard fork of Monero, named MoneroV (XMV), in mid-March. Holders of XMR that use the Moneo Wallet will be granted an opportunity of a substantial airdrop of the new XMV tokens, which would explain the coin’s spike in price. Some may be buying up Monero to take advantage of said airdrop.
However, it doesn’t look like the hype lasted long as XMR is currently trading for $345.78 a coin, down -6.01%.
Stellar (XLM) Soars
Stellar is the only coin within the top 15, that is currently in the green and seeing gains.
The project and its team has remained fairly quiet over the last few months, and its price has suffered. Now, the coin’s price suffered along with the rest of the cryptocurrency bear market but with zero new updates, it has left many XLM holders a bit antsy[3].
Hold tight all you Stellar fans because new news has just sparked. The project’s Twitter (NASDAQ:TWTR) page just retweeted[4] a post from Crypto Central on a pre-release to a Stellar Lumens wallet. There is no additional news on this but the news was released three days ago on GitHub[5]. The news finally hit mainstream media, which has caused the much-needed bump in XLM’s price.
Currently, Stellar is trading for $0.352 a coin, up 10.12%, in 24 hours. Hopefully, this news will continue to give the coin a boost as its value is directly correlated with its utility. Stellar has an extremely strong community behind it, and many in the cryptocurrency space see this coin as a long-term hold.
