Stellar Lumens [XLM] made news today, November 12, when it overtook EOS to become the fifth largest cryptocurrency on the charts. XLM has been on a roll in recent days with its 24-hour price change reaching upwards of 5% and correcting itself by hitting lows of 4.5%. It is clear that the volatility in the XLM markets is very high hence the trading volume is at $113.4 million, which is a whopping 99.51% increase in a 7-day time frame.
The market cap of EOS peaked at $5.21 billion in the same time frame as XLM but has since decreased, bringing the market cap to $4.89 billion.
The prices have increased from $0.2429 to $0.2771 while the market cap settled at $5.36 billion. The price of XLM reached a new high within the 7-day range i.e., $0.2835. The announcement of XLM’s air-drop in partnership with Blockchain company has raised a lot of eyebrows as this could be the biggest air-drop in the crypto-space. As per the announcements, the air-drop in total is worth $125 million.
The trading volume of EOS, which is well above the XLM’s trading volume has seen a decrease of $45 million and is now at $671.2 million, which didn’t seem to affect the price too much.
EOS was also in the spotlight a few weeks back due to the research published by Whiteblock which seems to point out a very disturbing finger at EOS claiming that the EOS is nothing more than a cloud service. The research which was commissioned by ConsenSys to Whiteblock further claims that EOS lacks the most basic feature of the blockchain, “immutability”.
The only respite that the EOS community can find is from the new stablecoin that was launched on the EOS platform called CarbonUSD. The bad news seems to find its way back to EOS as there was a fake app on Google Playstore that claimed to be developed EOS RIO, but the group of EOS developers in Brazil [EOS RIO] gave out a statement saying that the official app is yet to be developed.