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Stellar Soars 8% Overtaking Bitcoin’s Performance, What Prompted The Boom?

Stellar Soars 8% Overtaking Bitcoin’s Performance, What Prompted The Boom?


NewsBTC
2021-10-14 00:59:00

Up 10% in the daily and 36.3% in the 2 week chart, at the time of writing, Stellar Lumens (XLM) has been one of the best performing assets in the crypto top 30 by market cap. The cryptocurrency has managed to outperform Bitcoin, Ethereum, and other major coins in the top 10. Stellar technical indicators have quickly moved into the buying zone with the simple moving average (SMA) and exponential moving average (EMA) crossing the $0,32 mark. Related Reading | Stellar Development Foundation Takes Part In Abra $55 Million Series C Funding The Relative Strength Index (RSI) remains neutral with a 61.5 value, but the Moving Average Convergence Divergence, a metric used to measure price momentum in an asset, is flashing a buy signal. Stellar trending to the upside coincides with an exponential growth in its ecosystem. As summarized by the Stellar Development Foundation (SDF), the network made significant developments in Q3, 2021. In addition, it managed to secure important partnership such as the one with payment giant MoneyGram. This will allow users to connect their wallets with the company’s global retail platform. Thus, consumers will be able to leverage cash funding and payouts in USD Coin (USDC) with Stellar potential to instantly settle a transaction. In that sense, the network has expanded its main use case and its capacity to onboard millions of new users into its network. Related Reading | Stellar Network To Power ...

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