- Stellar partners with MoneyGram, HoneyCoin app, and Fonbnk to expand its global payment solutions and reach unbanked populations in Africa.
- XLM experiences a significant price surge of over 80% following ecosystem developments and the bullish momentum in the crypto market.
Stellar, the innovative blockchain platform, continues to make waves in the cryptocurrency market with its recent partnerships and developments. These exciting developments have propelled the price of its native token, XLM, to new heights, attracting the attention of investors and enthusiasts worldwide.
Expanding Global Payment Solutions and Financial Inclusion
In a bid to revolutionize global digital asset cash out services, Stellar has teamed up with MoneyGram and the HoneyCoin app. This collaboration, as reported by CoinDesk, enables users across Nigeria, Ghana, Tanzania, Kenya, Uganda, and the UK to leverage Stellar’s innovative payment and remittance solutions for seamless cash withdrawals using USDC.
Additionally, Stellar has partnered with Fonbnk to address the challenges faced by the unbanked population in Africa. With millions of Africans lacking access to traditional banking services, this partnership opens up new avenues for financial inclusion and empowers individuals to participate in the digital finance landscape.
Stellar’s Interoperability Expands Opportunities
Stellar has also made significant progress in terms of interoperability, allowing its network to connect with multiple chains, including Ethereum, Solana, Celo, and Polygon. Allbridge’s interoperability and bridge solution facilitate the seamless integration of Stellar into these blockchain ecosystems. This milestone showcases Stellar’s versatility and utility for decentralized finance, unlocking innovative opportunities for users.
XLM’s Price Surge and Market Performance
The impressive ecosystem developments and the recent victory of its close relative, XRP, in the SEC/Ripple lawsuit have significantly impacted XLM’s price. According to the report, over the past seven days, XLM has experienced a remarkable surge in value. Following the news of Ripple’s legal triumph, XLM’s price skyrocketed by 60%, surging from $0.096 to $0.153 within 24 hours. Despite a minor correction, XLM remains bullish and continues to strive for further gains, aiming to surpass the $0.1 mark and potentially reach $0.2.
CoinMarketCap data reveals XLM’s impressive performance, with a surge of over 42% in the last seven days alone. Compared to 30 days ago, XLM’s value has risen by more than 73%. Moreover, XLM’s growth trajectory is evident in its astounding 11,173% increase from its all-time low in November 2014.
Increasing Trading Volume and Bullish Outlook
Stellar’s strategic partnerships in the cross-border payment space have significantly boosted XLM’s trading activity. Currently, XLM boasts a trading volume exceeding $321 million, with a notable 130% increase in 24-hour trading volume. This surge in trading volume reflects a bullish sentiment surrounding XLM, with buyers exerting their influence and potentially driving prices toward the $0.2 milestone. As Stellar continues to advance its global payment solutions and foster financial inclusion, the future looks bright for XLM and its growing ecosystem.
