Altcoins have entered a slight correction after Bitcoin's relief rally lost steam and the price dropped below $35,000.
Stellar is a blockchain-based payments network that aims to provide a global, efficient system for digital asset issuance and exchange for individuals and institutions. Its native cryptocurrency is Stellar Lumens (XLM), which is used to pay transaction fees on the network to combat spam and also functions as the bridge currency that provides liquidity to any asset issued on the network by trusted entities called “anchors.”
Originally a fork of the Ripple protocol, Stellar was founded by Jed McCaleb and Joyce Kim in 2014 following internal conflicts in Ripple’s management. The Stellar Development Foundation, initially aided and funded by Stripe CEO Patrick Collison, is dedicated to building and promoting the Stellar network as a more accessible, low-cost system of financial services.
A notable design difference from other blockchains is the Stellar Consensus Protocol, which was introduced in 2015. This system foregoes proof-of-work consensus for a federated system that uses mutual trust among groups of peers, or “quorums,” and scales this trust across the network to achieve consensus.
Major German real estate group Vonovia has used the Stellar blockchain to transfer the ownership of real estate rights.20046
Traders are shifting funds into select altcoins as Bitcoin price trades in a sideways range.34576
Stellar Lumens saw major price action after the Stellar Development Foundation signed an agreement with the Ukrainian government.15074
Bitcoin’s sharp correction may not have broken its uptrend, but several altcoins have signaled that a short-term top could be in place.36082
Traders are buying every dip and pushing Bitcoin price to new highs on a daily basis, triggering many altcoins to follow suit.64639
Bitcoin's slow crawl toward $36,000 has given select altcoins the green light to rally higher.58633
XLM benefits from a Ukraine government partnership and becomes the latest addition to 2021's new alt season.42192
Stellar’s development arm will work with the Ukrainian government on several digital asset initiatives.17835
Altcoins could also see a strong buying interest and may run up vertically if Bitcoin rallies above $30,000.69945
2020 may have been filled with challenges, but Bitcoin, stablecoins and DeFi protocols are the clear top performing crypto assets for the year.18178
Bitcoin is taking a breather after the recent rally while altcoins are attempting to play catch up.39927
The SEC’s lawsuit against Ripple may be bearish for a few altcoins but could be bullish for Bitcoin.48986
Even with today's correction, Bitcoin is still in an uptrend, but most major altcoins have lost momentum and may remain range-bound for the next few days.31733
A handful of altcoins look ready to move higher as Bitcoin price enters a short consolidation phase.30083