Stellar soared in price by 60% in a day

by in Cryptocurrency News

Stellar

Over the past 24 hours, Stellar (XLM) has soared in value by 60% and made it to the top ten altcoins.

For the first time since November 2018, the XLM rate exceeded $ 0.2. The capitalization of the digital currency on Wednesday, November 25, rose to $ 4.234 billion.

Analysts attribute the growth in investment in XLM to the successful renovation of the project network. The new version of the blockchain became available to users on November 23. The developers have already announced this.

The community voted to activate Protocol 15 back in the middle of this month. The result was the introduction of options to make it easier to launch Stellar-based applications.

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Almost immediately after the vote, the rise of cryptocurrency began. For example, only on November 21, XLM doubled in price.

Rapid growth was outlined after software updates. In weekly terms, the altcoin's value increased by 125%. Stellar is on the list of the best performers of this "altseason".

Jed McCaleb's team, which launched the Stellar network back in 2014, is continually improving their crypto project. The developers have repeatedly emphasized that their goal is to reduce the cost of cross-border payments made based on the blockchain.