Stellar [XLM] & Cardano [ADA] Making Gains While Crypto Market Turns Red

Lawal Khalid ABIOLA
July 19, 2018 Updated April 2, 2022
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stellar

Stellar and Cardano have been continuing its upward trend in the market despite the majority of the crypto market turning red.

Many have been wallowing in happiness because Bitcoin, the crypto don, has surpassed the $6000 breaking point that it maintained for some time, and now lying in $7000 price range following the bullishness that arrived late. However, today’s look of the market has been red as most coins are pulling down in value. But still, giants like Stellar and Cardano have remained resistant to the new market bearishness.

For so long, many have been of the opinion that coins in the market follow the trend of Bitcoin dogmatically. They say that when Bitcoin rises, others follow while the downfall of the trailblazer means a plunge in the price of others.

Following the trend of Bitcoin, the likes of Ethereum, Ripple, Bitcoin Cash and others have been falling heavily in the market amid the recent bearishness.

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Stellar in the market

Proving adamant with the highest resistance power in the market, Stellar, according to Coinranking, in the last 24hrs has added 10.02% to its value as at the press time. Stellar is at the moment priced at $0.3136.

Stellar
Source: Coinranking.

While its contemporaries in the table are dripping with a value between 3 and 4 percent, the altcoin is on the rise with green. Since Yesterday, Stellar has been taunting moves for greater height with the value it is amassing in the market.

The altcoin which was formerly ranked 7th, took to the 6th position, after debasing Litecoin to the 7th position.

Though Litecoin has for long been viewed and ranked among the strongest Cryptocurrency in the world, Stellar took no chance in overtaking Litecoin on the table with its Market cap.

After the shift in the market table position, many observers linked the rapid growth of the altcoin to its recent achievement where it was crowned the first distributed ledger protocol to become a Sharia-compliant digital currency after receiving a certificate for Payments and Asset Tokenization from the Shariyah Review Board (SRB).

Similarly, a stable coin dependent on Stellar recently announced a partnership with the International Business Machines Corp (IBM).

Also, read: Stellar [XLM] Races Ahead of Litecoin [LTC] Amid Huge Developments

Cardano [ADA] in the market

Amongst the big ten, the second coin that is resistant to the fresh market fall is Cardano (ADA). The altcoin, in the market today has proven to be strong by adding 4.31% to its value after starting the last 24hrs with a $0.1766 price and now maintain 0.1850 value against Dollar, according to Coinranking price index value.

Cardano
Source: Coinranking.

The total market cap of the altcoin as at the time of writing this article is $4.8billion while its 24hrs trade volume remains 324.43 million.

Conclusively, as the two altcoins continue to maintain this trend, analyst are watching closely to see what they will be up to in the nearest days.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Lawal Khalid Abiola is a creative writer, entrepreneur and innovation lover. Lawal Khalid Abiola is an avid lover of Cryptocurrency.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.