Stellar (XLM) price up almost 15% in 24 hours

Stellar has the best performance out of the top 10 cryptocurrencies

Of the top ten digital currencies, Stellar (XLM) has achieved the best results over the past 24 hours. In 24 hours, the price of this altcoin rose by almost 15% to $ 0.284 on the BitXmi crypto exchange.

XLM capitalization exceeds $ 6.387 billion. The coin has risen to ninth place in the CoinMarketCap rating.

At the moment, the closest competitor to Stellar is Polkadot (DOT), whose capitalization is just over $ 7.581 billion.

Stellar’s return to the top 10 was preceded by explosive growth in the value of the cryptocurrency (+ 80% over the past seven days). In annual terms, the performance of the altcoin also turned out to be a record (+ 500% since January 2020).

Possible reasons for the growth of Stellar (XLM)

Analysts associate the growth of XLM not only with the recently concluded partnership agreement of the development team with the government of Ukraine but also with the problems of the XRP token.

Ripple’s altcoin has suffered heavy losses over the past few weeks. The fall in its value was the result of a lawsuit by the Securities and Exchange Commission (SEC) and delisting on leading trading floors. Read more here.

XLM is a modified fork of XRP. Accordingly, this tool became the closest to those investors who left the Ripple altcoin.

Former XRP holders have been a big contributor to Stellar’s capitalization, observers say.

Trade XLM right now on BitXmi crypto exchange paired with USDT, BTC, and ETH

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