Key Points:
Several analysts believe that the move by cryptocurrency exchange Coinbase to adopt USDC based on the Stellar network was one of the drivers for XLM’s recent price spike.
In a recent news release, the Stellar team said that Coinbase fully enables deposits and withdrawals of Circle USDC tokens over the Stellar network.
In addition to these game-changing advancements, the Stellar Development Foundation emphasizes the development of a substance on/off-ramp for USDC, which extends its accessibility outside Stellar’s current wallets, exchanges, and financial firms. This connection offers up a plethora of opportunities for USDC’s global adoption, offering customers a smooth, user-friendly experience that provides uncomplicated money storage and movement.
Stellar previously announced collaborations with Moonpay, a cryptocurrency payment infrastructure company, and MoneyGram, a remittance network.
Let’s take a look at XLM’s recent strong performance. During a negative period that began in March, it bottomed out at around $0.075 in mid-June. The latest rise increased the price by up to 40%, making XLM one of the best-performing currencies among the top cryptos by market capitalization.
At the moment, Stellar pointed at $0.103, up 4.3% from 24 hours, according to TradingView data. XLM is up over 24% over the past 7 days. Its $0.1 technical area has been successfully tested for the last 3 days.
With the current excitement, XLM could conquer the higher price zone at the 78.6% Fib level before making the next move. The $0.106 price zone is the level for investors to consider taking profits or beyond is $0.11.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…
Palo Alto, California, 21st November 2024, Chainwire
Best Cryptos to Buy: Qubetics presale rockets ahead, Bitcoin nears $100k, and Avalanche prepares to…
London, United Kingdom, 21st November 2024, Chainwire
The move will see developers utilize USDC on Aptos in creating dApps on a wide…
Abu Dhabi, UAE, 21st November 2024, Chainwire
This website uses cookies.