Stellar (XLM) Price: Shaky Trends Ahead of Weekend
The asset was, at one point, among the most traded coins on Binance, in a pairing with Bitcoin.
Stellar (XLM) keeps showing strength after drifting for weeks, for a short spell reaching above $0.30. In the early hours of Friday, Binance trading showed a mix of upward bidding and selling, slowing down the rising trend. XLM has added a net 5% overnight, and traded near the $0.30 range, later retreating toward $0.29 as of 4:30 UTC. Later, the coin sank along with the rest of the market, retreating toward $0.28 within an hour.
https://twitter.com/StellarLumens/status/1019951880774901761
One of the biggest risks for XLM remains the concentration of activity to one exchange, where nearly 50% of trades are vulnerable to local bots and orders. Still, XLM has a small inflow of Korean Won trading that may mitigate the price effect of Binance.
https://twitter.com/hanucraft/status/1019373119700496384
The Stellar project is more interesting in its potential to become the open-source version of Ripple. There are a handful of Stellar-based ICOs, including the latest Ternio project, which has started distributing coins in the past month. But the number of Stellar-based tokens is low compared to Ethereum.
A recent negative view of the XLM asset is the expectation for inflation, as the coin adds 1 billion new XLM each year, and the supply would grow significantly in the coming 10 years. But in the short term, this trend does not affect the enthusiasm for XLM.
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