Crypto Movement: Ethereum (ETH) Drops Below $300 and Stellar (XLM) Passes EOS
The cryptocurrency market has been all over the place lately with its price movements, and today, most of the top 10 cryptocurrencies are in the red. Today, we’re going to track the latest Ethereum news and Stellar news.
Stellar (XLM) has made a phenomenal rise on the market lately, but it seems that the world’s second largest cryptocurrency, Ethereum (ETH), has dipped to a year-low today.
Ethereum (ETH) Dips Below $300
Ethereum news today has ETH hitting its year-low of below $300, as the coin took an unexpected nosedive during earlier trading. Ethereum hasn’t traded under $300 since November of 2017.
At press time, Ethereum is trading at $290.24 a coin, down -9.86% in 24 hours. For the week, ETH is down -28.59%, and for the month, the coin is down -32.71%. Year-to-date, Ethereum is down -61.59%.
Ethereum developers are frantically trying to solve Ethereum’s on-going scaling issue, but it seems investors have lost confidence in the coin. This year, however, it has been extremely hard to tell if investors have lost confidence in the project itself or if the coin hasn’t made them the money they were expecting it to make for them.
Many investors entered into the crypto market expecting to make a ton of money—with little research. These sharp falls of digital currencies could very well be investors bowing out of the game because coins aren’t making them what they are expecting them to.
>> Facebook Execs Talk with Stellar Foundation
Stellar (XLM) Soars
The biggest Stellar news is XLM passing EOS to become the fifth largest cryptocurrency by market cap. Currently, Stellar is ahead of EOS by $50 million in its market cap. At press time, XLM is trading at $0.228 a coin, up 3.24% in 24 hours.
For the week, XLM is down -3.38%, and for the month, the coin is up 13.99%.
>> EOS’s Fourth Global Hackathon Announced for San Francisco
Featured Image: Depositphotos/© stevanovicigor
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