Why did Stellar grow by 29%?
Over the past two days, the Stellar tokens grew by 29%, and thus the price approached its absolute maximum, which was registered at the general peak of the market on January 5, and was $ 0.61. At the same time, capitalization has grown to $ 10 billion, now the cryptocurrency is the 6th in the top on capitalization, outperforming Litecoin.
The main reason that changed so much the situation was the application of the Stripe payment service that they will soon refuse to support bitcoin and invest in Stellar in order to make this payment tool in the future.
“We are thinking about adding Stellar as a means of payment if the number of network users continues to increase, which is why we have invested some of our capital in this cryptocurrency,” Stripe said.
This positive news was supported by the publication of the co-founder of Reddit Alex Ohanyan, who unequivocally stated that he supports Stellar. In addition, on January 25 it is planned to update the roadmap of the Stellar project.
There is also a direct dependence of the price of Stellar on Ripple – in those days when XRP outperforms the market index increases and XLM.
It is important that more than 50% of the total volume of trades Stellar occurs on the South Korean exchange Upbit, where the token is most often traded against the BTC. At Binance, Bittrex, and Poloniex, the XLM / BTC pair also represents a significant trading volume for Stellar.