Stellar News

Crypto brief: Stellar maintains its bullish momentum after increasing 12% in 4 hours

The coin’s price has been able to maintain its bullish momentum after soaring by well over 12% in just 4 hours. Some news that may have triggered this spike include the platform’s partnership with TransferTo and its listing on Houbi global.

The coin’s volume increased tremendously on Binance, with over $17.5 million traded as at 10 PM GMT. Previously, the coin’s price had increased by 25% over a few days, this combined with today’s upsurge, and Stellar’s price is around 40% up from its low of $0.17. This may have been triggered by news that Stellar Lumens (XLM) will be traded on Houbi Global, one of the leading exchange platforms in the crypto industry.

Stellar has been seeing some positive changes with XLM being the only token that saw a 20% hike among the top 30 digital coins last week. Just recently, the platform announced through a tweet that they had partnered with Kodak to power their flagship products, KODAKONE. The systems use crawlers on the internet to create a network where stellar can use its blockchain technology to identify intellectual properties.

Additionally, TransferTo, an international money transfer with presence and outstanding performance in more than 70 countries, partnered with Stellar (XLM), a significant competitor to Ripple in cross-border money transfer. The main aim of this development is to brighten the way money is remitted across borders in the world. As a result, there will be a more seamless and efficient settlement method between both partners’ network.

This news gave a boost to XLM in the market, thus enabling the coin’s price to maintain the bullish momentum. At the time of writing, Stellar was trading at $0.345 with a market capitalization of $6.5 billion. Moreover, the coin’s price is expected to reach higher levels by the end of 2018.

Following the recent development surrounding XLM, what’s your take on the coin’s future price?

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coinmag

Having contributed to many leading financial blogs, Ken's love for cryptocurrencies and the blockchain technology has him on high alert on all price developments within the cryptocurrency sphere.

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