Stellar (XLM) jumps 43% in a week, what’s driving it?

Stellar (XLM) jumps 43% in a week, what's driving it?

The Blockchain Industry: Stellar (XLM) and XRP Riding the Bullish Wave

Introduction

The blockchain industry continues to evolve and thrive, with cryptocurrencies like Bitcoin paving the way for innovative solutions and financial opportunities. While Bitcoin’s price may fluctuate, other cryptocurrencies, such as Stellar (XLM) and XRP, are riding a bullish wave, showcasing impressive growth and ecosystem developments. In this article, we will explore the recent advancements and partnerships in the blockchain industry, specifically focusing on Stellar’s rise in value and its impact on the digital finance landscape.

Stellar’s Impressive Ecosystem Developments

Stellar (XLM) has recently gained significant attention and value due to its partnerships and ecosystem developments. One notable collaboration is with MoneyGram and the HoneyCoin app, enabling global digital asset cash-out with USDC across various African countries and the UK. This partnership aims to provide accessible and efficient cross-border payment solutions, particularly in regions where banking services are limited.

Additionally, Stellar has partnered with Fonbnk to offer payment solutions to the unbanked population in Africa. This collaboration has the potential to bring millions of Africans into the digital finance landscape, expanding the reach and adoption of cryptocurrencies in the continent. These partnerships showcase the versatility and utility of Stellar’s payment and remittance solutions, addressing real-world challenges and driving the growth of the crypto industry.

Moreover, Stellar has achieved interoperability by integrating with multiple blockchain networks, including Ethereum, Solana, Celo, and Polygon, through Allbridge’s bridge solution. This milestone demonstrates Stellar’s ability to leverage innovative opportunities in decentralized finance (DeFi) and opens up new avenues for users and developers to utilize and build on the Stellar network.

• Scientists warn of potential stagnation in economic growth due to the ‘quantum revolution’.
• StarkWare’s ‘Starknet Stacks’ could contribute to the expanding range of blockchain-in-a-box solutions.
• Dogecoin surges 4% after Elon Musk’s tweet

Stellar (XLM) Price Movement and Bullish Momentum

Over the past seven days, Stellar (XLM) has experienced a significant surge in value. On July 13, when the news of Ripple (XRP)’s victory in the SEC lawsuit broke out, XLM’s price skyrocketed from $0.096 to $0.153 within 24 hours, representing a remarkable 60% boost. Although there was a minor correction afterwards, XLM remains bullish and aims to surpass the $0.1 mark and eventually reach $0.2.

According to CoinMarketCap data, XLM has surged over 42% in the last week, marking a 73% increase compared to its value 30 days ago. As of July 19, XLM’s price had risen by more than 21% compared to its value a year ago. This substantial growth is a testament to the increasing demand and interest in Stellar’s ecosystem and payment solutions.

The surge in XLM’s trading volume, which currently exceeds $321 million, indicates a strong market interest and potential for further price appreciation. In Stellar’s case, the increase in trading volume reflects the presence of bullish buyers, driving the prices upwards. If this trend continues, XLM may reach the $0.2 milestone in the near future.

Conclusion

The blockchain industry, with its diverse range of cryptocurrencies and innovative solutions, continues to make significant strides. Stellar (XLM), fueled by its impressive ecosystem developments and strategic partnerships, has emerged as a key player in the digital finance landscape. By collaborating with MoneyGram, HoneyCoin, Fonbnk, and integrating with various blockchain networks, Stellar has expanded its reach and improved accessibility to financial services, particularly in underserved regions.

The recent surge in XLM’s price and trading volume indicates a growing interest in Stellar’s offerings and showcases the potential for further growth. As the blockchain industry continues to evolve, cryptocurrencies like Stellar (XLM) and XRP are riding the bullish wave, offering exciting opportunities for investors, developers, and users alike.