There are some significant movements happening in the markets this morning (18th of April 2018).
Cardano has put in a solid performance over recent days, making solid gains, reaching $0.27 yesterday. This morning however at the time of writing, Cardano has dropped to $0.24, down 1.67% suggesting that finally Cardano might be on it’s way back down to it’s early April values, below $0.20.
Stellar on the other hand, has had quite the opposite experience and looks to be making big gains this morning. Yesterday, Stellar reached $0.28, up from $0.19 as seen early on in April. Now, at the time of writing, Stellar is valued at $0.31, up 8.41%.
Why is this significant?
Well, according to CoinMarketCap.com, Cardano is currently ranked 7th and Stellar 8th based on their market capitalisation, with, at the time of writing just $573,507,257 between them.
Right, okay, Stellar has some catching up to do before it physically moves up in market capitalisation over Cardano, but that’s not the point I’m making.
The real interesting factor here comes from how the rest of the market is looking. Most currencies are up, albeit a steady pace but up nonetheless. Stellar however is standing out as the currency making significant gains. Because of the trend, you’d expect Cardano to follow, but, as we have seen here, it isn’t, it’s decreasing.
As a result of this, Stellar has taken a significant chunk of value over Cardano, if this trend continues then the range between the two values will increase. With two currencies that are so close in value, this is something investors will be watching quite closely.
Why is Stellar moving away from Cardano?
Yesterday, Novatti Payments, an Australia based payment innovation firm announced that Stellar would be integrated into their systems, meaning Novatti will now support Stellar transactions through their digital wallets.
Congrats to our anchor partner @NovattiPayments on completion of Stellar integration! Look forward to seeing transaction commencement in the coming month. #Stellar #futureofpayments https://t.co/5DZsBENtjy
— Ella Qiang (@ellaqiang9) April 17, 2018
This seems to have had quite a positive impact on Stellar. It’s not a huge announcement by any means, but it’s also not bad news, moreover, it offers Stellar a little bit of extra limelight, in a market that thus far this week has been relatively undramatic (outside of a few, key turning points).
We expect this trend to carry on, with Stellar raking up value and Cardano decreasing. The changes may not be significant but in the grand scheme of things, they could set out a picture for a future in which Stellar, takes over.
Investment wise, remember this is not investment advice, it is simply speculation about what could happen, equally, it might not happen. Do your research, these two currencies are very important, ones to watch for sure.
Featured Image Original Source: Pixabay