South Korea’s main cryptocurrency trade, Upbit, has introduced the non permanent suspension of deposits and withdrawals of the Stellar community’s native token, XLM, and different belongings on the community. In line with an announcement from the trade, nothing severe occurred, and the occasion was attributable to the necessity for upkeep of the Stellar community and the wallets in it.

Provided that Stellar’s official data sources are quiet, and that comparable non permanent suspensions usually are not seen on exchanges aside from Upbit, it may be assumed that it is a drawback immediately with the South Korean platform.

Stellar (XLM) value motion

The XLM token has not been significantly affected by the occasion both, with its value falling by greater than 2% at the second however in tandem with the remainder of the crypto market.

Apparently, because the starting of the 12 months, XLM has outgrown XRP by greater than 4%, which might typically be thought-about its competitor. The rivalry dates again to the times when Jed McCaleb left Ripple — which makes use of XRP in its cross-border cash transactions — and based Stellar, which makes use of XLM.

It appears more often than not that XLM is attempting to catch up and act as a sort of beta to XRP, that’s, reacting by inertia to all narratives that transfer the value of its bigger competitor. Nonetheless, it now appears that the division into senior and junior cash is regularly being erased.