Jed McCaleb’s new Stellar cryptocurrency, traded under the symbol STR, is off to a good start during its first week of trading since launch.
The coin is now trading at about 967 satoshi (=$0.0056) on Justcoin, a crypto exchange that says it’s the “easy way to buy Bitcoin in Europe.” Volume is heavy, with a total of $263,000 worth on all exchanges, which include BX Thailand. Worth noting is that the other major cryptocurrency traded on Justcoin, other than Bitcoin, is Ripple- also co-founded by McCaleb and potentially rivalled by Stellar. Both aim to facilitate the transfer of assets such as in foreign fiat exchange.
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
STR is up by over 100% since launch. It ranks 19th in market cap, worth $2.9 million.
Interestingly, Ripple showed some wild trading behavior in and around the time of launch. It plummeted by 12% within minutes on August 4 and then subsequently traded flat for about 24h, before surging back to 870 satoshi within minutes, recouping most of its losses.