Why Stellar (XLM) Hasn’t Notably Increased In Price This Year?

If there is one cryptocurrency which has not been featured in our coming altcoin news for its strong performance and big gains over the past month it has to be Stellar (XLM). If you are asking yourself why Stellar is falling behind many other altcoins and not mimicking their gains – the answers may surprise you.

What’s true is that even with the latest run, XLM is in the green but did not rise considerably high as most of the altcoins. After a “stellar” year in 2018, there are many people asking why Stellar can’t repeat the same price movement and why is it lagging behind.

According to analysts in the altcoin news, Stellar (XLM) regularly grabbed headlines by outperforming the rest of the crypto market – which is the exact reason why Stellar is underperforming this year.

Yes. The truth is, while the rest of the market declined from summer to winter, XLM’s value actually increased. And not many people following the latest cryptocurrency news know that. Within the space of only a few months, Stellar was picked by IBM for its use in its World Wire cross border payments platform. The altcoin was also added to Circle’s list of investable digital assets – but also officially teased by Coinbase as one of the featured coins the exchange was considering to list.

This was accompanied by a rumor regarding Facebook’s use of Stellar for its own proprietary blockchain. One article featured in the New York Times mentioned that Stellar creator Jed McCaleb is among the ten people “leading the blockchain revolution.” So, all of these may be reasons why Stellar was big before and is lacking serious movement now.

It’s true that the roles are reversed now and that Stellar’s growth in 2018 was a lot more popular than now. By September, XLM had overtaken EOS in 5th place enjoying the status of a hot altcoins, as the best cryptocurrency news sites then described it.

Yet, XLM has fallen to number 12 in July this year and is down over 9% against the USD since January. While Bitcoin is up by more than 200% this year, Stellar is in the minus – its performance against the most dominant cryptocurrency is at a staggering minus of 69%.