Tuesday, 21 January 2020

Stellar ousted Monero from 10th position of the global crypto rating

By Tanya Abrosimova

Top 100 Coins by Market Capitalization

  • Stellar (XLM) regains 10th position in the cryptocurrency market rating.
  • The short-term recovery is limited by SMA200 on a daily chart.

Stellar (XLM) is changing hands at $0.0635, down 1.6% in recent 24 hours. The coin has regained the 10th position in the global cryptocurrency rating compiled by CoinMarketCap. Stellar's market value surpassed $1 billion thresholds on January 14 and reached $1.2 billion on Tuesday. An average daily trading volume is registered at $570 million, which is twice as much as at the beginning of January. 

Despite the decrease on a day-to-day basis, Stellar is still 27% higher on a weekly basis. The cryptocurrency experts believe that Stellar's price increase has been supported by positive fundamental developments and the project ecosystem's growth. Thus, Thai platform Lightnet, which is a part of Stellar's infrastructure, raised $31 million to develop a payment infrastructure in South Asia. The team announced that the payment network would be able to process transactions worth $50 billion annually by 2023. The capital influx to the Stellar-related structure served as a bullish catalyst for the coin. 

 Read the details of the story here


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