The Stellar price (XLM/USD) has seen sharp decline on Monday, amid a strong downtrend affecting most major digital coins.
The digital coin rose to an intraday high of $0.170 thanks to a strong afternoon session that saw its price surging some 7.5%. The coin pulled back just before the end of the session, but it still managed to finish the day in the positive territory. The coin’s close of $0.166 was significantly higher than its opening level of $0.159.
However, since then Stellar has mostly been on a downward trajectory. The coin finished yesterday’s session at $0.160, down from its opening price of $0.165. The coin has continued to decline on Monday and has recently reached a five-day low of $0.150. At the time of writing, Stellar was hovering around that mark, according to digital currency tracker Coinmarketcap.
Stellar’s appears to be part of a downtrend observe across the wider digital currency market. Major digital currencies, such as Bitcoin (BTC), Ripple (XRP), Ethereum (ETH) and Litecoin (LTC), among others, have seen big losses over the past 24 hours. As a result, the total value of all digital currencies has fallen down to $125.7 billion.
Regardless of the recent pull-back, Stellar’s resilient performance in the past few sessions has allowed the coin to overtake Bitcoin Cash (BCH), as the fourth-largest digital currency by market capitalisation. Stellar’s total market cap currently stands at $2.87 billion, slightly higher than Bitcoin Cash’s $2.79 billion
In today’s trading, the Stellar price stood at $0.149, as of 16:23 GMT. The digital coin has lost just over 7% in the past 24 hours, Coinmarketcap data shows.