- Stellar is enjoying a bull-run
- The Stellar price has skyrocketed by 15%
- Lightnet to add new remittance services
Stellar news today – the last few months have been favorable for the bulk of digital assets. Many struggled to meet up as the year wrapped up. Now going into the new year, it appears the price of cryptos is back up. Some of the major coins are now enjoying a slight rise in fortunes. The major top coin here on focus is Stellar.
Stellar is among the market’s top 20 digital currencies. The price of the digital currency has shot up by an impressive 15% in the last 24 hours. The coin is now trading safely at approximately $0.0617 per coin. This change means that the asset has posted a 35% in from what it stood at the beginning of last week and a 10% hike from the price recorded the previous day. This seems to be the case with most other cryptos at the moment.
Stellar was Struggling a Few Months Ago
Two months ago, the story of Stellar was different. The price of Stellar was struggling through bear territory much like the other major cryptos. The coin even lost no less than 5% of its value at the time and it was trading at its lowest position since October 2019. Now, this has changed for the better. Although some might say it’s too early to call a bull-run. The reason behind the surge in the value of Stellar has been the many new developments happening on the Stellar network.
Although this hasn’t been confirmed. But this reason and a host of others could be behind the coin’s recent good run in the market. New Stellar-backed Blockchain platform, Lightnet has gained $31 million from funding. The Thai—based firm is hoping to use the $31 million it generated from VC funding to improve its payments system and broaden its scope in the southern region of Asia.
Lightnet to Add New Remittance Services
The Thai firm is also reported to have stated that it is going to include several new remittance services to improve its platform. These services may include MoneyGram (a company already in a partnership with Stellar’s competitor Ripple). Lightnet also said that it is looking to handle funds to the tune of $50 billion for annual transactions around the globe by the year 2023.
Just like Stellar, the rest of the digital asset market is moving on an upward price action. Bitcoin is now trading below the $9,000 price position, while the number two largest coin by market cap, Ethereum has risen by 4% and is priced at $170 at press time.