These Two Altcoins Soared While BTC and ETH Declined

While Bitcoin and Ethereum have experienced sharp declines in recent days, the rise in the two alcoins has caught the attention of investors.

While BTC and ETH declined, these two altcoins soared. While Bitcoin and Ethereum, which has experienced sharp declines in recent days, continue to lose value, two altcoins stand out with their rise. The gain in Stellar (XLM) and XRP is quite remarkable. Ripple's cryptocurrency XRP has gained 17 percent in the past 24 hours, reaching its highest price since Monday at $ 1.6. Stellar, on the other hand, climbed 18 percent to $ 0.7 and hit an all-time high. The two altcoins are actually quite linked. Both were developed by Jed McCaleb. McCaleb was known as one of the architects of the Ripple protocol, which uses XRP as its native currency. McCaleb parted ways with Ripple in 2013 to focus on Stellar (XLM). Stellar was developed as a fast, inexpensive payment network like Ripple.

Two Altcoins Skyrocketed

Stellar performed much better than XRP last week. It has gained 31.9 percent in the last 7 days. The increase in XRP was recorded as 4 percent. The success of both is thought to be attributable to Elon Musk's statement that Bitcoin is not environmentally friendly. When Elon Musk announced that he would not accept Bitcoin in Tesla vehicle payments and showed that a lot of energy was used in the production of BTC as the reason for this, Bitcoin fell by almost 10 thousand dollars. [embed]https://twitter.com/elonmusk/status/1392602041025843203?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1392780304138473473%7Ctwgr%5E%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Fkriptokoin.com%2Fbu-2-altcoin-firladi%2F[/embed] Both Stellar and XRP use far less energy than Bitcoin. They use a small number of network validators to verify transactions. Bitcoin, on the other hand, relies on a large network of power hungry computers. At the time of writing, XLM is trading at $ 0.72 and XRP at $ 1.46.