Stellar, amongst most cryptocurrency in the table today, seems to be taking advantage of the recent market boom than any other. While most coins are adding value gradually, Stellar is scooping huge addition to its value, thus the altcoin is climbing the table higher.
Due to the bunch of value, the altcoin is amassing, the market cap of Stellar is increasing speedily and it has now taken over Litecoin, moving to the 6th position in the table after debasing Litecoin to 7th.
Stellar in the market, raising the bar
According to Coinranking.com, Stellar, a greener in the market is on the high side due to its massive addition to the market.
Even though Litecoin was once regarded as one of the three most popular Cryptocurrency in the world after a survey was conducted amongst American millennial, the altcoin seems to be dripping in the market, losing it value while other coins are taken over its position gradually.
In the last 24hrs, Stellar rose up adding 31.02% to its value. Due to the addition, after starting the period with a $0.2302 value against U.S. Dollar, Stellar is now on the high side and now priced $0.3024 as at the press time.
Similarly, the last seven day of the altcoin has also been wonderful with great value addition. Comparing the present value of Stellar to its starting value in the last 7 days ($0.1910), the altcoin has added about 59% to its value within the stated days.
With the gigantic addition, Stellar is amassing, the altcoin seems to be elating its lover, users, and investors, that the days of earning the fruit of their hard-earned wealth has arrived. Added to that, many are now being curious about what must have led to the rapid growth of Stellar in the market.
Stellar’s recent development may be the source of its growth.
Yesterday, it came to the hearing of the world that Stellar, the Cryptocurrency known for cross-border remittance, has named by the Shariyah Review Board (SRB) as a Sharia-compliant network for Payments and Asset Tokenization.
The development made Stellar the first distributed ledger protocol to be certified as a Sharia-compliant digital currency. Also, the certification will help increase the use and popularity of the Cryptocurrency amongst Muslims, especially in the Middle East areas.
In the same manner, the Cryptocurrency that connects banks, payments systems, and people, Stellar was also been lifted in another development which was disclosed yesterday.
The International Business Machines Corp (IBM) announced a partnership with a Stable crypto pegged to the U.S. dollar which was launched on the Stellar blockchain.
Musing of all the developments, many observers came to the conclusion since the altcoin’s growth in the market came after the latest achievements, it might have been the pivot of Stellar’s massive growth in the market.
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Lawal Khalid Abiola is a creative writer, entrepreneur and innovation
lover. Lawal Khalid Abiola is an avid lover of Cryptocurrency.