Home » Cryptocurrency » Stellar price (XLM/USD) limits losses as major altcoins bleed red

Stellar price (XLM/USD) limits losses as major altcoins bleed red

Dimitar Bogdanov
  • September 12th, 14:27
  • Last Updated: October 17th, 09:17

The Stellar price (XLM/USD) has seen some losses over the past 24 hours, but it has been much more stable than the broader digital currency market.

While major coins like Ethereum (ETH), Litecoin (LTC) and Cardano (ADA) have seen double-digit percentage losses in the most recent 24-hour period, Stellar has been able to limit the damage. The coin even managed to finish the Tuesday session in the black, thanks to a late surge that lifted its price to an intraday high of $0.206. Stellar eventually finished the session at $0.201, up from its opening level of $0.191.

Stellar has not been able to defend the $0.20 mark on Wednesday, as its price tumbled to an intraday low of $0.187 in the morning session. While, the coin has seen a slight uptick in the afternoon, it has continued trading below yesterday’s close. At the time of writing, the Stellar price was hovering around $0.19, according to data from digital currency tracker Coinmarketcap.

The Stellar price may have been propped up by yesterday’s announcement ICO services platform TokenSoft has added support for projects running on the Stellar protocol.

"We feel that [the Stellar network], the tool sets and the underlying infrastructure do provide the maturity for us to provide official support. We're excited to announce that if you want to receive payments for lumens, we can provide support," TokenSoft’s co-founder Mason Borda told industry website Coindesk, which reported on the development.

"We noticed that not only was there demand for Stellar, but also entrepreneurs and companies were beginning to use Stellar," Borda added.

In today’s trading, the Stellar price stood at $0.192, as of 14:22 BST. The digital coin has gained 0.5% in the past 24 hours, Coinmarketap data shows. Its total market cap currently stands at $3.6 billion.

About the author

Dimitar Bogdanov
Dimitar Bogdanov
I have been a journalist for Invezz since 2012 and am one of the oldest on the team. My focus is on cryptocurrencies as well as general equity markets, although my experience is broad overall.

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