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Stellar (XLM) deposits and withdrawals temporarily suspended on Korea’s Upbit<\/p>\n<\/div>\n<\/div>\n
South Korea’s leading cryptocurrency exchange, Upbit, has announced<\/a>\u00a0the\u00a0temporary suspension of deposits and withdrawals of the Stellar network’s native token, XLM, and other assets on the network. According to a statement from the exchange, nothing serious happened, and the event was caused by the need for maintenance of the Stellar<\/a> network and the wallets in it.<\/p>\n Given that Stellar’s official information sources are quiet, and that similar temporary suspensions are not seen on exchanges other than Upbit, it can be assumed that this is a problem directly with the South Korean platform.<\/p>\n The XLM token has not been particularly affected by the event either, with its price falling by more than 2% at\u00a0the moment\u00a0but in tandem\u00a0with the rest of the crypto market.<\/p>\n Interestingly, since the beginning of the year, XLM has outgrown XRP by more than 4%, which could generally be considered its competitor. The rivalry dates back to the days when Jed McCaleb left Ripple\u00a0\u2014 which uses XRP<\/a> in its cross-border money transactions\u00a0\u2014\u00a0and founded Stellar, which uses XLM.<\/p>\n It seems\u00a0most of the time\u00a0that XLM is trying to catch up\u00a0and act\u00a0as a kind of beta to XRP<\/a>, that is, reacting by inertia to all narratives that move the price of its\u00a0larger competitor. However, it now seems that the division into senior and junior coins is gradually being erased.<\/p>\n<\/div>\nStellar (XLM) price action<\/h2>\n
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