Stellar (XLM) deposits and withdrawals briefly suspended on Korea’s Upbit
South Korea’s main cryptocurrency trade, Upbit, has announced the momentary suspension of deposits and withdrawals of the Stellar community’s native token, XLM, and different property on the community. In line with a press release from the trade, nothing critical occurred, and the occasion was attributable to the necessity for upkeep of the Stellar community and the wallets in it.
On condition that Stellar’s official info sources are quiet, and that comparable momentary suspensions are usually not seen on exchanges apart from Upbit, it may be assumed that it is a downside straight with the South Korean platform.
Stellar (XLM) worth motion
The XLM token has not been significantly affected by the occasion both, with its worth falling by greater than 2% at the second however in tandem with the remainder of the crypto market.
Apparently, because the starting of the 12 months, XLM has outgrown XRP by greater than 4%, which may usually be thought-about its competitor. The rivalry dates again to the times when Jed McCaleb left Ripple — which makes use of XRP in its cross-border cash transactions — and based Stellar, which makes use of XLM.
It appears more often than not that XLM is making an attempt to catch up and act as a sort of beta to XRP, that’s, reacting by inertia to all narratives that transfer the worth of its bigger competitor. Nevertheless, it now appears that the division into senior and junior cash is regularly being erased.
