Stellar (XLM) & Lisk (LSK) Drop in Price

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Most of the cryptocurrency market remained quite stagnant in price fluctuations throughout the day. Most coins were only seeing minor gains/losses aside from Litecoin (LTC). However, as the working day comes to a close, two top coins are seeing major losses, and many are scratching their heads.

Stellar (XLM) has a lightning fast cross-border payments system and is set to be a strong contender for the coin of the year, with a strong support group. However, the coin is losing some major steam on the market today. Lisk (LSK) just rebranded today, yet its price is steadily dropping – but why?

Stellar (XLM)

Souce: CoinMarketCap

The Stellar team has yet to provide its loyalists with any update in regards to its future upgrades or partnerships. Since the coin’s value comes merely from its usability, have XLM’s followers lost faith in the coin? A Stellar holder and loyalist by the name of ‘Crypt0W0rld01’ posted five hours ago on a Bitcoin talk forum and said:

“It really wouldn’t kill Stellar to maybe provide some updates every now and then. Maybe a peek at what’s being worked on, partnerships being pursued, etc. I’m not saying I want this to turn into Tron or Ripple where every week is another pointless announcement just to excite the market. The roadmap was witty, I got a good laugh out of it, but it’s not surprising to see a lot of investors getting frustrated and jumping ship. Everyone is left in the dark right now. No one has a clue what the team is working on, partnerships they’re solidifying, etc. Who knows, this could all be by design.”

That was just one of many similar comments. It remains unknown what the actual cause was of this price plummet, as it very well could be that it’s just falling like the rest of them because of panic selling. However, these loyalists have spoken, and they demand answers.

At press time, Stellar Lumens are trading for $0.38 a coin, down -13.74%.

>> Best Altcoins of 2018

Lisk (LSK)

Source: CoinMarketCap

Lisk has just recently dropped below NEM, Ethereum Classic, Tron and VeChain and is now sitting at the 17th spot. Today, the project rebranded with a new website and logo. It isn’t so much big new changes but a re-focus of its goals.

There was a major price run-up as many anticipated this rebranding but since then it has completely dropped off unexpectedly. Did users just buy on the hype and then sell when they gained a profit? I’m unsure. The new website will go up tomorrow, so maybe investors are just confused. Stay tuned for more developments on this matter as they unravel tomorrow.

At press time, LSK is trading at $25.12 a coin, down -15.71%.

>> Lisk Rebranding Info

What are your thoughts? Are you holding XLM and LSK and surprised too?

Featured Image: TheEvent

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Chelsea Roh is a freelance content writer living in Vancouver, BC. Her current focus is cryptocurrency, financial analysis and blockchain technology. You could call her a “blockchain enthusiast.” In addition to content writing, she is an experienced Social Media Strategist. Before moving to Canada, she spent 10+ years marketing
and working hands-on in the medical practice industry.

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