Cryptocurrency market update: Stellar (XLM) bulls finally awoken from slumber

Stellar stays in the green as the market continues in the consolidation mode.
More gains expected on the cryptocurrency market as Money 20/20 conference nears.

John Isige FXStreet

The bulls on the cryptocurrency market are waking as the market creeps higher steadily. Stellar has been the market leader over the weekend trading. Besides, the gains have jumped to the new week with XM/USD correcting higher 3.9% on the day.

In spite of Stellar’s ballistic rise, the market did not experience any major movements. The trend continues in the consolidation mode. However, the entire market capitalization rose slightly from $133 billion to $134 billion. At press time, the assets in the top ten bracket are mainly in the red with Bitcoin leading from behind following a 0.76% loss, Ethereum trading lower 1% while Ripple’s XRP is down 0.87%.

According to CoinMarketCap, XLM is up 10.97% in the last 24 hours. It is trading above the key level of $0.10. The asset’s market capitalization has increased to beat the six weeks high at $1.95 billion.

The ballistic rise has been directly linked to the news that Börsenmedien AG, a media firm in Germany is buying stakes in SatoshiPay. In addition to that, the change in sentiments is also linked to the upcoming Money 20/20 conference.

Read more on XLM incredible performance here:

Stellar Lumens goes ballistic on SatoshiPay’s acquisition news

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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