Most of the cryptocurrency market is trading in the red this morning, but the movement is trending upwards, and coins are beginning to flip green. Stellar (XLM) is just at the cusp of making the transition to positive market gains, but XRP, the coin created by Ripple, is falling far behind.
Let’s take a closer look at the projects surrounding these cryptocurrencies and their latest movement.
Ripple and XRP are often confused with one another. Ripple Labs is a blockchain-based global fin-tech company seeking to aid financial institutions with their proprietary payment platforms. XRP is a digital currency, independent of the company, that powers Ripple’s xRapid product. Ripple owns a large majority of the digital token.
Earlier this week, Ripple held its annual Swell conference, but instead of Toronto, it was held in San Francisco.
— Ripple (@Ripple) October 4, 2018
The event kicked off with a Q&A with former US President Bill Clinton, and Day One concluded with a concert by the Counting Crows. Despite the positive two-day event, XRP hasn’t seen any boost in its price.
Earlier in September, the Stellar Foundation announced a new subsidiary of its company called Interstellar. Interstellar is a combination of two former subsidiaries named Lightyear and Chain and will employ 60 individuals. It is headquartered in both San Francisco and New York City. Stellar’s Founder, Jed McCaleb, will take over as CTO and Adam Ludwin will take over as CEO.
The Interstellar team manages StellarX, the newly released peer-to-peer asset trading marketplace.
StellarX is launched–free trades, fiat onramp, all kinds of tokens! Still lots to do. But here's a look at where we are and where we're going. https://t.co/BnHGwxD8E0
— StellarX (@stellarxhq) September 28, 2018
StellarX was launched last week and currently holds the most popular cryptocurrencies on its platform. The platform is completely free to use, as in they do not charge a fee for trades. StellarX has a real fiat onramp, and if you have a US bank account, you can deposit USD directly into the app, via ACH.
XRP and XLM Price Movement
According to CoinMarketCap, XRP is currently trading at $0.516 a coin, down -3.26% in 24 hours. XRP remains the third largest cryptocurrency by its total market cap. Stellar (XLM) is currently trading at $0.243 a coin, down -0.48%. Stellar remains just below EOS as the sixth largest cryptocurrency.
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