Stellar (XLM) Surges 42% in One Week, What’s Driving It?

Whereas bitcoin price Payment solutions Stellar (XLM) and XRP continued to ride a bullish wave, retesting the $30,000 support. Stellar (XLM) Outranking today’s top gainers Amidst impressive ecosystem development.

Determined to break all barriers to target $0.2, XLM painted all charts green with a massive 43.29% gain in value on the week. The cross-border payments facilitator has gained over 8.79% in its valuation in the last 24-hour trading session.

XLM Rides on a Bullish Momentum from Impressive Ecosystem Growth

Following the development of the ecosystem, XLM continues to grow due to increased interest in its innovative payment and remittance solutions. recently DevelopmentStellar partnered with MoneyGram and HoneyCoin App to support the redemption of global digital assets with USDC in Nigeria, Ghana, Tanzania, Kenya, Uganda and the UK.

Related Reading: $116M Worth of Pre-Mined Ethereum Moves Up After 8 Years: Is a Bigger Price Drop Imminent?

in another AnnouncementStellar partnered with PhoneBank to provide payment solutions to the unbanked in Africa. Considering that millions of Africans do not have access to banking services, Stellar’s partnership with MoneyGram and PhoneBank could bring more users to the digital finance landscape, further expanding the crypto industry.

In addition, Stellar is now available on multiple chains including Ethereum, Solana, Celo and Polygon through AllBridge’s interoperability and bridging solution. announced On July 11, the integration is a significant milestone for Stellar, demonstrating its utility for innovative opportunities in decentralized finance.

This achievement could be one of the factors driving the price of XLM higher over the past seven days. Then again, the coin is still enjoying the bullish wave of its close relative, XRP’s victory in the SEC/Ripple lawsuit.

Stellar (XLM) price movement over the past seven days

Over the past seven days, XLM saw a significant jump. On July 13, when news broke of Ripple’s (XRP) victory, the price of XLM jumped from $0.096 to $0.153, a 60% increase within 24 hours. Although there was a one-minute correction as the buzz subsided, XLM remains bullish, battling for more gains to cross $0.1 and claim $0.2.

coinmarketcap statistics Shows that XLM is up more than 42% over the past seven days, making it 73% more valuable than it was 30 days ago. As of 6:19 a.m. EST on July 19th, the price of XLM was up over 21% from its value over the past year. TeaThe increase in the value of the token is reflected in an increase of more than 11,173% since November 18, 2014, which reached an all-time low of $0.001227.

Stellar’s cross-border payments partnership has undoubtedly improved trading activity for XLM. The coin currently has a trading volume of over $321 million, according to Coinmarketcap, with a 130% increase in 24-hour trading volume.

An increase in trading volume often points to two factors: large selling and high demand or buying pressure. However, in the case of Stellar, the price resurgence shows that the bulls (buyers) are at work and if they persist, the price could move closer to $0.2.

Featured Image from Pixabay and Chart from Tradingview.com