XLM has been sliding down the chart, but is it preparing for another spike?
Stellar (XLM) has been largely forgotten after the December pumps, and has slid to a lower price range, going as far down as $0.34. This price is still phenomenal for the asset that traded around $0.03 for months before that. Yet now, XLM may be revving up for another price spike.
February has not been kind to XLM despite the positive outlook at the start of 2018, as the price has continued to slide against Bitcoin, together with a slowdown in trading volumes.
Yet the project has been generally active with announcements, and 2018 may open up more chances to move the coin up from the depressed positions. XLM trading has moved to volumes not seen since last fall, and the hype turned out to be short-lived. But this may not be the last of XLM that we see, as the project aims to add ICOs and make its decentralized exchange more widely used.
Recently, the Stellar project has been slow about updates, and there is just one event coming up ahead in the next few days:
Tel Aviv Meetup | Join @JedMcCaleb, co-founder of @StellarOrg, and @Yoniassia, CEO of @eToro, on March 5th to learn about the Future of #Blockchain https://t.co/tIJ33VBo0q #XLM #fintech pic.twitter.com/nzBTMfXH2I
— Stellar (@StellarOrg) February 21, 2018
So just like XLM remained almost invisible for months, this asset may spend some time outside the spotlight as other coins see more activity.
Cardano Sliding as Well
Cardano (ADA) had a similar fate to XLM, as it spiked to above $1 prices briefly. Now, ADA is back down to $33, and is almost in the same price range as XLM. Both coins are unraveling, and may offer buying opportunities at lower prices.
The biggest risk for those low-priced coins is a long period with lowered activity and a further slide in prices.
In the case of Stellar, adding high-profile ICOs may lead to the appreciation of the token, as it happened with Ethereum. So far, Mobius Network seems to be the most powerful proposition, an ICO that is making the rounds in the Korean community:
We’re honored to have been invited to speak and featured at several conferences and meetups in the next couple of weeks (and months)! If you’re in any of these cities, please come out and support: Seoul, Stanford, Tokyo, Melbourne, Sydney, London $mobi https://t.co/7ITGpEIl9H pic.twitter.com/t6EbMZOoTb
— Mobius (@mobius_network) February 25, 2018
The XLM market price depends largely on Korean trading, as it reaches a premium of $0.37 against the Korean Won.
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