Stellar lumen rises on SHIFT partnership

August 13, 2018
Chris Wheal

Stellar’s lumen was one of the best performers among the top 10 cryptocurrencies by market capitalisation on Monday thanks to the announcement of another partnership.

Stellar

Stellar lumen rises after announcing a partnership with SHIFT Markets

On Friday, it was announced that Stellar.org was partnering with SHIFT Markets to help develop its exchange offering.

Speculation also built over the weekend that Stellar.org was in talks with Facebook for the social media network to develop blockchain solutions on the Stellar network.

Although a spokesperson for Facebook said there was no truth in the speculation, the price of Stellar’s native cryptocurrency – the lumen – continued to climb.

Iota losses

Iota fell last week following the news smartphone producer Sirin Labs would no longer be developing its blockchain phone on Iota’s network. The recent losses saw it drop from the crypto-asset top 10 on Monday, although its price was up 1.7% to $0.55.

Replacing it in the top 10 was Monero, whose market capitalisation rose to $1.57bn as that of iota slipped to $1.52bn.

Price round up

Here’s a round-up of the price moves on Monday at 11am [London time]:

  • Bitcoin +2.6% at $6,480
  • Ethereum -1.3% at $319.67
  • Ripple +0.5% at $0.31
  • Bitcoin cash +1.5% at $585.13
  • Eos +0.7% at $5.12
  • Stellar lumens +7% at $0.24
  • Litecoin -0.7% at $60.05
  • Cardano +0.6% at $0.11
  • Tether -0.7% at $0.99
  • Monero +0.5% at $95.55
Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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