Despite the fact that the price of Bitcoin (BTC) has skyrocketed over the past couple of weeks and Bitcoin has become the center of all cryptocurrency news, the Stellar coin (XLM) has shown the best performance during this time. Stellar, also known as Lumens, rose 85% in two weeks from 0.18 to 0.33 cents. And by 13% per day, when compared with yesterday’s figures for this time.
As a result of this meteoric rise, Stellar's market capitalization stands at over $6.3 billion, placing the coin as the sixth largest coin before Litecoin (LTC) and behind EOS (EOS).
The upward trend comes after CoinBase announced that Stellar is among the top five coins the exchange is considering for adding to its trading platform. Traders are apparently betting that the coin's addition to the largest U.S. cryptocurrency exchange will lead to a significant increase in demand. CoinBase is going to add Stellar along with Cardano (ADA), Basic Attention Token (BAT), Zcash (ZEC) and 0x (ZRX). If CoinBase adds Stellar and Cardano, it will have six of the top eight traded on its platform. Of the eight, only Ripple (XRP) and EOS (EOS) will be missing.
Stellar coin technology is also gaining popularity. Singapore-based money transfer company TransferTo has announced its partnership with Stellar to streamline its cross-border transfer service. As part of this collaboration, TransferTo believes that financial institutions and partners of both Stellar.org and TransferTo "will benefit from the combined network coverage and will be able to use new technologies to send and receive money more efficiently in more than 70 countries."
We'll see whether Stellar's price has reached its limit or moves further.
According to fool.com.au
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