Stellar Cryptocurrency News

Stellar To Undergo Network's Update On Thursday

The team has announced that tomorrow, on September 13th, the Stellar's network will undergo a network update with all of the nodes and services upgrading to the latest versions of Horizon/Core. The annoucement says: "The time has come for the network to upgrade to version 10 of the protocol!" The update wasn't expected to be done so fast, however it needs to solve a problem of bots, which allows to create an unlimited amount of offers as long as the user hasn't sold his tokens:

"Originally we wanted to give a little more time for the upgrade but it looks like we need it sooner than later: we've been told (and confirmed) that bots have been ramping up activity that in some cases take advantage of the limitations of the current version of the protocol.

The new version of the protocol makes life a lot harder for the bot community and their handlers, therefore getting the network onto that new version becomes a priority."

The update brings lots of stability improvements like for example avoiding 100% CPU usage when running certain commands or the sole transactions are better flooded on the network. There are also some new features like updated 'loadgenerator' to allow for more scalable and parallel submission of synthetic traffic.

XLM Price

Why is Lumen Increasing in Value So Much?

While most of the investors are worrying about the fact that most of their coins are losing the value, Stellar seems to be going in the opposite way at the moment. With Ethereum dropping to $170, it is unusual to see Lumen increase at the same time from $0.185 to $0.2049 in a matter of hours. ETH, LTC or BCH has lost -8% in last 24 hours, while at the same time XLM gained +3% and seems to be still raising. Is is the effect of the upcoming network update?

With Ethereum losing the value so rapidly, many believe that the funds from sold ETH are escaping towards other cryptocurrency projects, especially as few of them got a sudden price increase. Do traders believe that Lumens are better investment than Ethereum?

XLM Price Movement Analysis

Few days earlier, XLM was trading rather stably around $0.2 region on September 7th. Then a sudden price fall happened and was mostly caused by all of the top cryptocurrencies losing in value around this period. The first bottom was achieved at $0.1931, then a small recovery happened back to $0.2 region. The lowest it got this week is $0.185 on September 11th. However, this low has been used as a great opportunity for current price spike.

XLM/USD Price Chart, Wednesday September 12th:

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