It seems that most of the altcoins have triggered an upward trend, while Bitcoin has fallen slightly below the $ 10,000 threshold. A cryptocurrency in the top 20 leads to the highest growth – Stellar Lumens (XLM).
Stellar XLM recorded the most spectacular growth, almost 30% in 24 hours. Its value reached $ 0.085 during the day yesterday and since then it has registered a slight decrease.
The price explosion was quite shocking. It took place against the backdrop of a significant increase in trading volume. On September 16, trading volume for XLM was approximately $ 84 million over a 24-hour period. Yesterday, trading volume was more than four times higher at $ 372 million. This increase in volume took place in parallel with the increase in prices.
Stellar XLM after the accumulation period
It is difficult to say why XLM recorded such a sudden ascent, but it went through a long period of accumulation. Moreover, it was perhaps the most affected of all the top 20 cryptocurrencies. Not only did it not make a profit for 2019, but it also had difficulty maintaining even a basic level of prices.
Even the recent airdrop conducted by Binance on September 6 did not significantly affect the price evolution. The exchange distributed about 9,500,000 XLM to everyone with at least 10 XLM in Binance wallets.
However, many now hope that this growth will signal that the future of XLM is more positive. In addition, it may be a signal that the altcoins market is recovering from a difficult time when Bitcoin was the focus.