Stellar Lumens (XLM) takes advantage of its partnership with the Ukrainian government to shine even brighter. XLM is back in the top 10 cryptocurrencies. It even won a victory against its main competitor in the field of cross-border means of payment on blockchain.
Lumens boosted by the Ukrainian government
According to data from CoinGecko, Stellar Lumens is now the 9th largest cryptocurrency in terms of market capitalization, ahead of Chainlink (LINK) and Binance Corner (BNB).
The price of Stellar Lumens saw an increase after the partnership of January 4, 2021, between Stellar Development Foundation and the Ukrainian government.
The market cap of Stellar reached $ 6.6 billion. Those from Chainlink and of Binance Coin then amounted to 6.1 and 5.8 billion dollars.
Stellar shines, Ripple doesn’t even see the light at the end of the tunnel
The return of Stellar in the top 10 cryptocurrencies follows the recent parabolic 80% rise in the price of XLM.
On January 12, 2021, the XLM was trading at $ 0.302, up 27% in the past 24 hours.
The XLM also recorded significant growth during the year 2020. According to data from CoinGecko, Stellar has posted returns of over 500% since the start of 2021.
Stellar recently won the blockchain payment method battle against Ripple (XRP) – mired in legal issues with the DRY.
The Stellar Development Foundation and the Ukrainian government have entered into a partnership for the development of a crypto ecosystem incorporating a possible CBDC from the country.
This agreement resulted in a growth of XLM, which translated into daily gains of 30% on January 5, 2021. Stellar is, however, still far from its ATH of $ 0.78 of January 3, 2018.
Ripple is missing out on opportunities to shine, with Bitcoin (BTC) trading well above $ 35,000 and putting cryptocurrencies front and center, not to mention the race for CBDCs that normally benefit trading software. cross-border payments already well established in the cryptosphere. Ripple could leave the United States for Japan, Stellar could establish good bases in Ukraine. Cryptos are making traditional assets outdated in terms of earnings. 2021 begins with parabolic rises, hoping that the next 11 months will not be those of a correction, with bulls doped at the start of the year.
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