Cryptocurrency News – Stellar (XLM), one of the altcoins in the cryptocurrency market, is trading in an uptrend today. Despite the sluggish price action of the market leaders, tokens like XLM made investors happy by painting their charts green. Stellar has been rising steadily since the beginning of the week. However, thanks to its 23% rally in the last 24 hours, it managed to stabilize its price at $ 0.1683.
The current growth momentum reflects investors' efforts to push the altcoin's price higher. Last week, XLM gained 74.38% in one of its best weekly rallies since the beginning of the year.
According to previous reports, USDC on the Stellar network has begun to be used as a payment method in Africa and recently in LATAM. This records the massive adoption of cryptocurrency. As a result, we can see that Stellar has achieved its main goal of closing the financial gap by providing a seamless payment model that is easily accessible to everyone.
Utility provides bullish momentum to altcoin
Stellar remains one of the first protocols launched specifically to accommodate payments. Despite this, the utility of the protocol is growing tremendously and diversifying its core offerings everywhere.
Positive momentum pushed the altcoin's price up 111% last month, according to CoinMarketCap data. This increase in the price of XLM has been quite challenging against many of its competitors, especially XRP.