WTF is going on with Stellar Lumens?

Maveryck

jr. member

Activity: 148

Merit: 6

Quote from: CrypticGambit on October 19, 2017, 03:50:08 PM

well they have announced partnership with IBM but look at the chart. A lot of people have huuuge bags. They bought at the top and they need to get rid of it. Some coins just never reach their all time highs! Keep that in mind when investing.

And keep in mind the Market Cap. MC is already high for Stellar at $0.29 per coin today.
At 10 times the today's price, the MC would exceed 50 billions
It's the same for ADA.

CrypticGambit

full member

Activity: 280

Merit: 100

The Operating System for DAOs

well they have announced partnership with IBM but look at the chart. A lot of people have huuuge bags. They bought at the top and they need to get rid of it. Some coins just never reach their all time highs! Keep that in mind when investing.

Iwuzhaxxed

member

Activity: 77

Merit: 10

Russian hackers stole my legendary account. :(

Quote from: TokenSchmoken on October 19, 2017, 02:57:30 PM

Quote from: Zakhal on October 19, 2017, 02:20:33 PM

I checked the situation in bittrex and I think its just a whale playing game with us. Look at the sell orders. For every satoshi there is like 36 bitcoins worth of lumen on sale. Someone is deliberitly dumping the price down. Possibly to force weak hands to sell.

0.00000555 36.9334
0.00000556 36.9466
0.00000557 36.9530
...
(this goes on and on for many many pages)

Im guessing sooner or later the price will rocket again once this dumping game is over.

Can you explain a bit more please (for plebs like me!)? Why would they want to keep it low? Just to grab more at lowest possible price??
I think it had some momentum and it needs to build on that and reach ripple price levels and overtake it in terms of popularity among institutions that will use it.

The only way its going to reach ripple price levels is if some whale sees profit. So they buy as much as they can at the lowest possible price. Once they have enough they use their remaining BTC and buy the sell side pumping the coin to all time highs while their buy walls come up and protect them from dumpers.. Once they get to their desireed price they maintain that price and sell off their cheaply acquired coins. Once they are done they leave it in the hands of the regular traders. So we see the constant decline in the price of a coin. Until they decide to come back.

TokenSchmoken

member

Activity: 71

Merit: 10

Quote from: Zakhal on October 19, 2017, 02:20:33 PM

I checked the situation in bittrex and I think its just a whale playing game with us. Look at the sell orders. For every satoshi there is like 36 bitcoins worth of lumen on sale. Someone is deliberitly dumping the price down. Possibly to force weak hands to sell.

0.00000555 36.9334
0.00000556 36.9466
0.00000557 36.9530
...
(this goes on and on for many many pages)

Im guessing sooner or later the price will rocket again once this dumping game is over.

Can you explain a bit more please (for plebs like me!)? Why would they want to keep it low? Just to grab more at lowest possible price??
I think it had some momentum and it needs to build on that and reach ripple price levels and overtake it in terms of popularity among institutions that will use it.

paramind22

hero member

Activity: 2730

Merit: 552

With the market like it has been in the last six months, you really need to develop some callouses from holding.

Zakhal

full member

Activity: 280

Merit: 100

I love crypto

I checked the situation in bittrex and I think its just a whale playing game with us. Look at the sell orders. For every satoshi there is like 36 bitcoins worth of lumen on sale. Someone is deliberitly dumping the price down. Possibly to force weak hands to sell.

0.00000555 36.9334
0.00000556 36.9466
0.00000557 36.9530
...
(this goes on and on for many many pages)

Im guessing sooner or later the price will rocket again once this dumping game is over.

TokenSchmoken

member

Activity: 71

Merit: 10

I have just taken a big punt on XLM at current price. I expect another pump before the end of 2018...hopefully a 50% gain. But tempted to hodl long term if good news keeps coming like the IBM collaboration...

digitalgame4life

full member

Activity: 378

Merit: 105

Active forum member, A+ poster, PM good sign camp.

They had a partnership with XLM Stellar Lumens indeed, IBM was the reason for the high ''pump'' as we speak, they have made the announcement at Sibos 2017 about the partnership and that was the reason for the pump, it almost pumped 2 times, a day after the other but unfortunately it wasnt pumped high enough, hence people retreated, and the price fell back down, the total coin supply is too much for a good price up, if IBM would buy the whole project for 2 times the marketcap we could see some serious pumps.

Vansire

full member

Activity: 238

Merit: 102

Why did IBM choose Stellar Lumens instead of any other altcoin? Do you think the way the airdrop was distributed is fair?

fia_naila

sr. member

Activity: 770

Merit: 258

The Standart Protocol - Solving Inflation

Too many air drop. Thats is why stellar still keep going down. In fact no one care about another alt coi . They only care about eth. Ripple, dash, monero, lite coin. Those alt coin has a big community already. And main coin will always be bitcoin,

Erowind

full member

Activity: 280

Merit: 100

Sorry for the bad post, I've just never seen a non shitcoin jump that quick. This type of thing is normal for shitcoins, but Lumens are an actual project. Good on them with their IBM partnership.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

it is simply a pump! they just released some news which you can see in other comments already and because of that the market reacted and the pumpers started their machines to pump the price up. although those with insiders info bought it long ago when this news was not released yet.
things like this happen so often in altcoin market. that is why you always have to have one year to the ground if you want to take part in these pumps and make a big profit in one or two days.

i think this board is in serious need of a new sticky topic explaining what a "pump and dump" is, so that maybe less topics like this would be created in the future. Cheesy

hase0278

hero member

Activity: 882

Merit: 544

Quote from: Erowind on October 16, 2017, 07:18:22 AM

XLM just had a massive pump, is this a coinmarketcap glitch or did it really pump by over 100%?

It is not just a glitch, the pump is real. The reason is connected with the current news about IBM partnering with stellar lumens to allow instant digital exchange of fiat currencies without touching crpyotcurrency itself usng stellar lumens' technology. IBM itself is a big company and because of it I see more potential on stellar lumens if it would be used as a medium to convert fiat currencies digitally.

ICBCOK

full member

Activity: 152

Merit: 100

Quote from: iamlds08 on October 17, 2017, 02:46:23 AM

i think it is because of the IBM news. https://www.coindesk.com/ibms-stellar-move-tech-giant-use-lumen-cryptocurrency-payments-rail/ check it out.

I agree with you.
"While IBM's blockchain solutions are designed to complete much of the workflow around transaction clearing, the actual settlement will be conducted using Stellar's blockchain."

iamlds08

full member

Activity: 490

Merit: 110

i think it is because of the IBM news. https://www.coindesk.com/ibms-stellar-move-tech-giant-use-lumen-cryptocurrency-payments-rail/ check it out.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: Elle47 on October 16, 2017, 08:49:47 AM

I hold this coin as well. What do you think about its potential?

the potential can be good because today the price is seems want to break the barrier and want to increase more than yesterday but the order buy and sell is too much and i think it makes some lack if the price still want to increase. we need to waiting and i think the trend is still in good position and maybe today the price will increase more.

Elle47

newbie

Activity: 33

Merit: 0

I hold this coin as well. What do you think about its potential?

DigeNarrator

member

Activity: 210

Merit: 11

Quote from: slaman29 on October 16, 2017, 08:16:16 AM

I'm not in Lumens but am in GBYTE which had a similar model for distributions (free airdrops for existing BTC holders). Like Lumens, byteball also suffered from heavy losses after peaking a few months back. It's something like less than 20% of it's all time high now, so even if it were to take a 100% increase, it would still be less than a third of its highest value.

"Regretting" I didn't sell when it was at $500, especially since I bought it at $400 now am a bagholder at more than 50% loss!

Maybe there is a still a bright future, with all the news around

i dont really understand the point of that coin, i dont like it just because of its symbol

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

I'm not in Lumens but am in GBYTE which had a similar model for distributions (free airdrops for existing BTC holders). Like Lumens, byteball also suffered from heavy losses after peaking a few months back. It's something like less than 20% of it's all time high now, so even if it were to take a 100% increase, it would still be less than a third of its highest value.

"Regretting" I didn't sell when it was at $500, especially since I bought it at $400 now am a bagholder at more than 50% loss!

gatonegro97

newbie

Activity: 29

Merit: 0

I sold for double profit, was at 2.5x. Was that a pump and dump?

Topic: WTF is going on with Stellar Lumens? (Read 2274 times)