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Stellar price analysis 22 September: XLM skyrocketing as marketplace accelerates

Posted: 22 September 2018 4:29 am
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As with most tokens, XLM's value has increased rapidly.

Key takeaways

  • Stellar Lumens' digital token is off to the moon, as are most cryptocurrencies.
  • Trading volumes have risen more than 125% in the past 24 hours.
  • XLM surges on the back of XRP's market dominance.

Stellar's value has increased by almost one fifth (19%) in the last 24 hours of trading. The cryptocurrency is also performing tenaciously (14%) against bitcoin. Almost the entire marketplace is enjoying positive gains today.

Stellar

In the early hours of this morning, the coin was priced at approximately US$0.251. It had crept up from lows of US$0.212 yesterday. The token fluctuated to a peak of US$0.275 before slipping back down to its previous value.

Other digital currencies have shot up this morning, including XRP (60%), Bitcoin Cash (12%), Cardano (12%), EOS (9%), Ethereum (8%), IOTA (7%) Monero (6%), Litecoin (6%), Dash (6%) and bitcoin (4%).

At the time of writing, XLM was valued at US$0.251.

24-hour trading volumes have more than doubled since yesterday, up from US$89 million to US$202 million.

While it’s possible that XLM's latest rally may have been encouraged by the recent positive sentiment permeating the cryptocurrency market, driven by XRP, there may be other factors involved in the price hike.

Chain and Lightyear merge to form Interstellar

Stellar Lumens is a token issuance and international payments-focused cryptocurrency and Chain is/was a builder of cryptographic products for use on decentralised ledgers. Together they are now Interstellar.

The nitty-gritty of the deal is that Stellar-backed commercial arm Lightyear acquired Chain to merge with it. Both the Lightyear and Chain brand names will be retired and replaced with Interstellar. The upshot of the deal is that Chain, along with some existing clients and services, will be moving onto the Stellar blockchain. Stellar will receive several new tools for businesses, enabling additional potential for real-world adoption.

Stellar, listed in the top ten coins by market capitalisation, recently eclipsed 1 million network accounts.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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