ForexMinute.com – Altcoin charts are usually considered to be influenced by the ups-and-downs of the Bitcoin market. In last week itself, Bitcoin’s major fall was clearly reflected in the performance of other coins, namely the nearest ones like Litecoin, NXT, Peercoin, etc.
Amidst such crucial times, Stellar seemed to be among the only top coins whose market cap took an anti-gravitational route, rising over 40% within a few hours. Undoubtedly, such a rise was a sight to the eyes but how much good it can bring for the coin’s early and new investors is a question that requires a short debate.
The Stellar Route since August 5th
While staring at a 90-day chart of Stellar on our trusted source CoinMarketCap.COM, we notice occasional pumps-and-dumps performed to honor the sustenance of the coin. Its trade first breathed on August 5th, after which it was visibly pumped and dumped by equal proportions. There, its highest intraday value was recorded to be 1017 satoshis, while the lowest one turned out to be 454 satoshis.
Thereupon, the Stellar’s chart did a Bitcoin by staying almost calm and non-violent. Over the period of 1-month, the coin remained with a stiff trading range, averaging between 481 and 419 satoshis. Its price behavior changed somewhere around the Twin-Tower anniversary, shooting upward with little signs of volatility. But since September 15th, the price behavior have been visibly bullish. Until this date, the STR/BTC has moved from the consolidating value of 452 satoshis to the peak of 1007 satoshis – just 10 satoshis shy from its best.
Meanwhile, the Stellar market cap has surged from around $2 million to $4 million (the 13th highest on CoinMarketCap.COM).
The Alleged Reason behind Stellar’s Performance
Amongst the new coins launched lately, we have noticed a certain anonymity when it comes to reveal their developers. It is only the coins like Darkcoin, Monero and Stellar which have always ensured to sustain transparency with the end-consumers. CoinGecko has awarded Stellar’s developer a 77% trust percentile.
But overall, the coins market is still prone to the usual risks involved in the cryptocurrency trading arena. We cannot just take a good health card in account to predict its future movements. Indeed, there are greater actors in the market which are investing heavily in Stellar. But it also means that the coin will fall with equal speed in future. However, it won’t vanish like other altcoins. Not that easily!
To contact the reporter of the story: Yashu Gola at email@example.com
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