Riding on the Bitcoin Boom, Stellar price hikes 60% with Altcoins Too Gaining Momentum 

Bob Coiney

November 26, 2020

bull runRiding on the Bitcoin boom, the price of Stellar saw a massive increase of 60%. This was along with other altcoins, too as prices continue the good showing. 

According to a news article on Decrypt, Stellar (XLM) was more than 60% and beyond 100% for the week. This was a sublime performance by the cryptocurrency along with Ripple (XRP) and altcoins too.

XLM is trading close to $0.19 per coin. Users would be delighted to know that it is the highest for more than 2 years. XRP, which is a related crypto asset, surged high few days, nearing the $1, and then finally stopping at $0.70.

This is probably the year of reckoning for cryptocurrency users. During the initial phase of the year, Bitcoin was stable and surged higher. The price of BTC was near to 20% in just a few days. Gladly, the Bitcoin market is steady now and running well. 

Additionally, altcoins have steadily gained, giving better news to the cryptocurrency market, which has never seen such precedence of their values. 

The altcoin surge comes along the Bitcoin bull run. It is placed comfortably over $19,000 that is the all-time high. Smaller market caps like Stellar, too, have immensely benefited through this rush at the moment.

Webnowcompany has rightly pointed out in their tweet the altcoins ride in the Bitcoin boom. 

https://twitter.com/webnowcompany/status/1331314774299324423?s=20

Stellar was formed in 2012 by Jed McCaleb as a consumer-friendly version. Today, the trading volume is more than $3.1 billion.

Michaël van de Poppe, who is an analyst, feels that the current hold of XLM prices maybe because of its connection with XRP. 

A news publication on Yahoo Finance has precisely stated that Bitcoin soared massively after Election Day, though the winner was not clear. It then climbed steadily when the results began to show Democrat Joe Biden’s trend to win. 

This was due to several factors, including the fact that the federal government may issue a pandemic stimulus package. Like they say in the cryptocurrency market, the government monetary seems to appeal to the Bitcoins.