Stellar Lumens [XLM]’s declining chart alarms the community and the market

Stellar Lumens [XLM] is currently ranked 8th on the market list. Its performance has been highly affected by the bearish market and shows a huge decline. Stellar in the last 24 hours has seen a declining rate of 0.32% which has reflected on its 7-day average as well.

Stellar’s market cap has taken a drastic hit this week. The market cap of Stellar is currently dropped down below the $7 billion mark. Last month, Stellar’s market cap witnessed a surge beyond expectations. Its market cap rose by more than $5 billion and now it has dropped from a hike of above $8 billion.

Stellar’s performance has not only been low today but in the entire 7-day average. The average has been declined by 13.47% in the past one week. Its efforts to get back on track has not been as successful as it has seen a surge only for a couple of hours in the last 7 days which has not reflected on the overall picture. The overall picture remains to be moving downward.

7 days chart for XLM

7 days chart for XLM

The lowest market cap that Stellar experienced in the last 7 days was around $6.6 billion. The community tweeted with concerns about the coin yesterday, following the drop.

A crypto enthusiast tweeted:

“Guys, Stellar is suffering from a huge loss! I prefer FOMO than fear of losing my real money”

Cardano which is just above one place Stellar is also experiencing a double-digit decline in the last 1 hour, last 24 hour and on the last 7-day average.

In the last 7 days, Cardano has witnessed a decline of 15.13% which is higher than Stellar but Cardano’s market cap remains above $8 billion at the moment, giving it an advantage over Stellar.

Stellar has not seen positive numbers that could help its declining numbers even in the last one hour. It declines at the rate of 0.29% in the last one hour. The price has now lowered to $0.376826. Many speculate as the bearish market changes its course Stellar will see a similar rise it experienced in the previous month, given its potential.

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