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The price of Stellar XLM soared to as high as $0.39 on January 6.
Stellar, the world’s 14th-largest cryptocurrency, was selected by the European country for the latter’s upcoming state-backed digital currency.
One of Germany’s oldest banks said it was choosing the Stellar network to issue a Euro-backed stablecoin, in one of the first such instances.
The price of XLM, the native cryptocurrency of the Stellar blockchain, has been showing strong momentum. There are three reasons why XLM saw a 166% rally in the past week.
In its first step towards the futuristic Akon City, Akoin, the cryptocurrency business that is chaired by global artist Akon, can now be used to pay for goods and services in a west Kenyan city.
Despite strong rallies in countless altcoins, the fourth-largest cryptocurrency XRP has yet to share in the gains.
After trading somewhat in tandem with Bitcoin and Ethereum over recent weeks, which are flat on a macro scale, Stellar Lumens (XLM) saw a strong breakout on July 16 that brought the asset up by over 10 percent, CryptoSlate data shows.
Stellar (XLM) has been caught within the throes of an incredibly intense uptrend throughout the past few days, adding over $600 million to its market capitalization.
Akoin, the Stellar (XLM) based blockchain network and cryptocurrency developed by artist Akon, has partnered with healthcare solution provider Jeev to help improve access to healthcare to millions of people in Rwanda and the rest of Africa.
Investors and traders holding Stellar (XLM) may have a reason to rejoice.