After The Bearish Storm, Stellar Lumens (XLM) Leads The Way In Price Recovery 

stellar lumens

The bearish storm that disrupted the cryptocurrency market recently was no joke. In fact, many individuals were afraid that some cryptocurrencies will fall to zero and others will be wiped out of existence entirely. Well, Stellar (XLM) didn’t just survive the storm. The XLM token is leading the way per recovery.

Stellar (XLM) Vs. The USD

On the 17th of October, XLM to USD pair moved above the $0.22 mark. Crossing this resistance paved a way for more gains against the USD. It started a bull run afterwards that helped it recover most of the loses it had suffered against the USD last week. Over a seven day period, XLM is up by 15.19%. In fact, as at yesterday, it had made its way back to $0.25. Because this is a significant level, it was expected to attempt a downward correction within the next few hours of trading before resuming the upward movement.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$7,199.720.944%
stellar
Stellar
$0.052-0.70%

The native token of the Stellar blockchain, XLM is the sixth largest cryptocurrency per market capitalization according to the data on CoinMarketCapital. The platform is more concerned about building strong partnerships and promoting payment enhancing tech than it is about price increase. The team intends to reach a global audience. This is why Stellar partnered with Chain Inc to develop Interstellar. The Interstellar project will help organizations build on Stellar’s blockchain.

Some time ago, smarttest.wpmudev.host reported that Stellar might soon partner with Fidelity. Tom Jessop, the head of business at Fidelity happens to be the formal head of Chain Inc. So, it’s possible that Fidelity is actually looking for a way to use the Stellar blockchain to move digital assets to their respective platforms.

Not too long ago, Coinsuper, a cryptocurrency trading exchange based in HongKong listed XLM on its platform. This and other good sentiments around the coin may be contributing to the recovery.

Stellar (XLM) Price Now

As stated earlier, XLM was expected to attempt a downside correction after crossing the $0.25 mark. Currently, it is trading at $0.24. This shows that is is down by 0.92% against the USD and down by 0.98% against Bitcoin. The trading volume over a 24 hour period is $56,530,123 while the market capitalization is $4,609,896,538. The uptrend is expected to resume this coming week.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.