Stellar (XLM) & NEO | Will the Cryptocurrencies Rise from the Ashes?

Stellar (XLM) & NEO – The cryptocurrency market is ending the work week in the red and sitting just below the $330 billion mark. May turned out to be extremely bearish for the market, but hopefully, in June it will turn around.

Let’s take a look at two altcoins that have been flying under the mainstream radar lately.

Stellar (XLM) Update

Stellar has been flying under the radar lately, as the non-profit project has yet to announce any major partnerships in quite some time. Both Ripple and Stellar’s value come from its utility and it seems the big brother (Ripple) is certainly winning in this department.

Stellar’s co-founder and CTO, Jed McCaleb, was previously the founder and former CTO of Ripple. Ripple is geared more towards institutions, whereas Stellar’s tech is aimed to be used by anyone.

The latest movement from the Stellar comes by way of a cryptocurrency exchange pairing. Binance announced yesterday that it would be pairing XLM with Tether (USDT) on its platform.

There seems to be no indication of a new partnership on the horizon, but the altcoin remains the 8th largest by its market cap still. Stellar investors remain confident. At press time, XLM is trading at $0.289 a coin, down -3.44%, in 24 hours.

>> Crypto in May: Coins Who Lost the Most

NEO Update

Back on May 14th, Ontology and NEO signed a Memorandum of Understanding (MoU) and last Thursday, the pair announced they would be co-founding a “joint task force.

Within six months, the task force hopes to make the NEO and Ontology networks more friendly to its end-users and explore multiple use-cases for crypto-algorithms on the blockchain.

Despite the partnership, NEO had a rough month of May. It was one of the worst performing coins within the top 25, by losing almost -40%. Still, with its partnership with Ontology and all the ICOs being launched on its platform. The dApps project and 11th largest cryptocurrency is setting itself up for a major comeback.

At press time, NEO is trading at $53.90 a coin, up 0.55%, in 24 hours.

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