Stellar’s market behavior significantly impacts its price. XLM’s price continues to soar as interest in its innovative payment and remittance solution increase. With a circulating supply of 27 Billion XLM, Stellar is valued at a market cap of $4,455,249,477. This represents a 17.69% price increase in the last 24 hours and a 68.28% increase in the past 7 days. The substantial growth in the token’s value is evident in its remarkable rise of over 11,173% from its all-time low of $0.001227 on November 18, 2014.ĬoinGecko data shows that Stellar (XLM) is experiencing a new rise of $0.163440 today, with a 24-hour trading volume of $1,111,293,622.11. According to CoinGecko’s sentiment analysis, over 84% of users feel good about the token’s prospects – highlighting that the community is bullish about Stellar.Īccording to CoinMarketCap data, XLM has surged by over 42% in the last seven days, resulting in its value being more than 73% higher than it was 30 days ago. Stellar (XLM) price surged by 104% to $0.196 after the Ripple news broke, but then it retraced some of those gains over the weekend.ĭespite a minor correction after the initial excitement subsided, XLM has maintained a bullish trend. It also clarifies the specific circumstances under which a digital asset may be classified as a security. It challenges the SEC’s assertion that most crypto tokens should be classified as securities and subject to strict investor protection regulations. The favorable ruling by US District Judge Analisa Torres, which stated that Ripple didn’t violate federal securities law, marks a significant development in the ongoing debate over the regulatory status of cryptocurrencies. Ripple’s recent legal victory sent the price of Stellar (XLM) soaring, following the price of XRP, which experienced over 100% surge in value. The payments network is powered by its own native cryptocurrency, Stellar Lumens. It links payment providers and financial institutions, enabling users to create, trade, and transfer any type of currency quickly and at a very low cost. Stellar Lumens (XLM) is a decentralized protocol for the cross-border transfer of digital currency launched by the Stellar Development Foundation in 2015. With its promising use cases and technological advancements, Stellar Lumens could attract increased adoption and carve out a distinct niche in the crypto world. Investors and enthusiasts are closely monitoring Stellar’s performance as it continues to focus on its unique proposition of facilitating efficient and low-cost cross-border transactions and remittances. The current frenzy has fueled speculation about Stellar’s future trajectory, with many wondering if XLM will break through the coveted $1 mark before the end of 2023. While Stellar (XLM) and Ripple (XRP) serve different use cases in the cryptocurrency space, due to their common origins, investors might perceive the legal victories of one project as indicative of potential success for the other, leading to similarities in their price trends. On July 13, following the news of Ripple Labs’ (XRP) legal victory against the Securities and Exchange Commission (SEC), XLM’s price experienced a meteoric rise from $0.096 to $0.153, resulting in an impressive 60% boost within a mere 24 hours.Īccording to data from CoinMarketCap, XLM has surged by more than 42% in the last seven days alone, bringing its current value to over 73% higher than it was 30 days ago. Stellar (XLM) has witnessed a remarkable surge in value over the course of the past week.
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