Illustration by Mitchell Preffer for Decrypt

For those who keep an eye on crypto prices, it was yet another fairly uneventful week as market leaders Bitcoin and Ethereum—and most other leading cryptocurrencies—barely budged.

Among the top thirty cryptocurrencies, Stellar’s XLM was the only one to post notable losses. Last week, XLM rallied 10% off the back of a tweet promising “something cool” in ten days. Lo and behold, ten rotations of the earth later, on Tuesday, and Stellar delivered a high-budget commercial with Idris Elba. While the production is faultless, several saw it as a piece of non-news.

Contrary to the team’s intentions, XLM’s price has dropped 11% since last week. Evidently, it was all too tempting a case of “buy the rumor, sell the news” for investors to pass by.  

On Monday, Bitcoin fan Udi Wertheimer warned customers of Swan to pull out their money after he noticed that a hack recently targeted the Bitcoin-exchange’s stash held by Fortress Trust. Many felt that the hack explained Ripple’s sudden acquisition of Fortress. 

Jameson Lopp, CTO of self-custody…


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed