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.
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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.