With corrections yet to be introduced, markets have been experiencing an upward trend. However, Bitcoin and couple of altcoins are the beneficiaries of the upward trend in the market. The total market cap has surpassed the mark of $300 billion and is hovering around just above the $300 billion mark.
Barring the aforesaid growth, Bitcoin largely remained stagnant with no signs of unusual gain or loses. Bitcoin has crossed $8k mark this morning, but the experts believe that Bitcoin trading numbers in terms of value might plummet below $8k as traders take profits out of the equation. Ethereum witnessed a marginal growth of 1.8% to trade at $485, but the figure over the week largely remained constant.
As mentioned earlier, altcoins being one of the beneficiaries of the upward trend occupied the green shade with one or two making a double-digit growth this morning. Stellar Lumen being one of them which exhibited a growth of
11% on the day according to Coinmarketcap. Earlier today, XLM stood at $0.332 which is up from $0.297 recorded yesterday. In the current week, Stellar has made 9% growth from $.037 until this time last week.
The monthly figures of the Stellar looks even more impressive with a gain of 73% from just under $0.20 this time last month. In comparison with Bitcoin XLM is up by 11.4% on the day to 4,070 satoshis. On the other hand, the weekly figure went down by 3% from 4,200 satoshis recorded the previous week.
The positive momentum shift can be attributed to the TransferTo Partnership, which allows Stellar to be used in cross-border transactions over 70 countries. As per the latest reports, under this agreement, the financial institutions and partners of both Stellar.org and TransferTo will be able to benefit from the extended network coverage and they will be able to introduce new technologies to send and receive money efficiently across 70 countries.
With Stellar already having made a constructive move, It has crossed Litecoin in the market cap charts with $6.2 billion and is currently ranked at the sixth place.
Leave a Comment