Cryptocurrency Investors Surprised by Spectacular Rise in Stellar (XLM)

CRYPT — Stellar (XLM) has been flying under the radar despite the broader cryptocurrency market’s continued struggle to maintain its bullish momentum. The digital asset saw gains across all of its charts, with the most notable increase occurring last week, when it rose more than 20%. As it turns out, Stellar’s value has gone “crazy, and no one is talking about it” as XLM’s price hit a crucial $0.10 low, as shown in an analysis of chart patterns published in a tweet by the pseudonymous cryptocurrency trading expert Nebraskangooner on June 27.

This was in response to the price of XLM almost hitting $0.10. According to the most recent data available, the price of one unit of Stellar was trading at $0.09565 at the time of this article’s publication. This price points to 4.42% growth for the day, up 20.81% over the previous week, and up 8.32% on its monthly trend. The recent announcement that cryptocurrency exchange Coinbase has enabled support for USD Coin (USDC) on the Stellar network, offering near-instantaneous, low-cost transactions in over 180 countries, may be one elements that triggered the price increase.

In the meantime, one of the things that could fuel the price spike is the recent announcement. From real-time remittances and payments to global on-and-off ramps for fiat and cryptocurrencies, USDC on the Stellar network offers real-world utility for businesses and individuals. Additionally, the platform announced its connection with crypto-payments infrastructure startup MoonPay, which will allow users to buy and sell cryptocurrencies (including XLM) in a simplified way in over 160 countries. worldwide. At the same time, Stellar merged with money transfer platform MoneyGram to enable simplified cash deposits and withdrawals from cryptocurrency wallets via USDC on Stellar without the need for a bank account. The company announced the integration on June 21.

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