Stellar lowers base reserve for creating accounts to 0.5 XLM

Stellar published updates on GitHub about lowering the base reserve to 0.5 XLM what made the cost of creating accounts and orders inexpensive and led to XLM price rise
12 January 2018   796

The Stellar network stated that it requires small fees on transactions and minimum balances on accounts in order to prevent people from overwhelming the network and to aid in prioritization.

As it was stated on Stellar GitHub, all Stellar accounts should have a minimum balance of lumens and any transaction that would reduce balance to less than the minimum will be rejected with an INSUFFICIENT_BALANCE error.

The minimum balance was calculated using the base reserve, and from january 12 it was lowered to 0.5 XLM. The minimum balance for a basic account is $$2 * [base reserve]$$, and every additional entry costs the base reserve.

Entries include:

  • Trustlines
  • Offers
  • Signers
  • Data entries

For example, an account with 1 trustline and 2 offers would have a minimum balance of $$(2 + 3) * [base reserve] = 2.5 XLM$$.
 

Stellar GitHub

At the moment of press, these are main market parameters of Stellar:

  • Average price: $0,69
  • Marketcap: $12 355 845 024
  • 24h volume: $478 618 000

Asian Cryptotrading: Top Altcoin is Stellar Lumens (XLM)

During the morning’s Asian trading session Stellar Lumens has become leading-the-way altcoin at present
18 April 2018   118

It has begun the market correction. Morning’s Asian trading session is led once again by Bitcoin which has lost 1% on the day dropping back under $8,000 once again. This fact has trailed most of the altcoins down with it, albeit marginally. One seem to be doing much better than the rest this morning and leading the way at the moment is Stellar Lumens.

According to Coinmarketcap`s report, an 11% gains for XLM during the morning’s trading in Asia. Other altcoins are mostly marginally up or down but very few are showing double numeric gains. Stellar is currently trading at $0.31 up from $0.28 this time yesterday, over the week it has gained 55% from $0.20 the same time last Wednesday. The monthly illustration is even more colorful with Stellar rising over 85% from its low of $0.167 on March 18. In a difference from Bitcoin, XLM is up 12% on the day to 3920 satoshis from 3500 sats this time yesterday. During the past week Stellar has earned 34% against BTC from 2925 satoshis the same time last week.

Stellar charts
Stellar Lumens charts

Momentum has been largely operated by general positive market mood for all cryptocurrencies over the past week as well. Those that had the substantial losses such as Lumens and Cardano seem to have rebounded faster as traders and investors shared up on them at low prices. Many build problems and hackathons announced on their Twitter have kept the community busy and recently the altcoin was listed on Coindirect and Buybit. 

This morning the most of trade in Asia has been on Binance which commands 30% of the total volume. South Korean’s have been involved in it also as Upbit and Gopax are second and third with trade in KRW. General XLM volume has grown over the past 24 hours by over 60% to $121 million. Stellar has continued to be steady in the top ten for some time now and is currently 8th position with a market cap of $5.7 billion. 

Total crypto market cap has kept stable over the past day and at present sits at about  $326 billion. Other Asian trading`s solid altcoins include Nem, Bytecoin and Steem.

Stellar Lumens price at the moment of press: $0,318381
24h volume: $116 864 000
Market cap: $5 911 936 081