Why Did Stellar Lumens (XLM) Record Gains of More Than 11% Over the Weekend?
Stellar Lumens price has been pretty impressive lately. The news around the digital currency has helped to boost its value over the weekend. It has created a kind of bull run that the digital currency is riding on. Stellar Lumens (XLM) has been on a steady upward movement for the past three days. Some analysts have also given their price prediction about the future of the coin.
The recent stellar lumens price surge also resulted in an increase in its trading volume. Some trading platforms recorded huge XLM trading volumes. ZB.com saw the highest Stellar Lumens (XLM) trading volume over the weekend. ZB.com is a China-based digital currency trading platform. Previously, the exchange has been accused of wash trading activities.
The second largest trading volume was seen by Exrates. Whereas, the third largest XLM trading volume over the past 24 hours was posted by Binance.
Here’s Why Stellar Lumens Surged by More Than 11 Percent Over the Weekend
Stellar Lumens (XLM) price started correcting higher on the 7th of March. On the day XLM price started surging higher, Borsenmedien AG announced it was acquiring stakes in SatoshiPay. Borsenmedien is a media firm that is based in Germany. SatoshiPay is a digital currency start-up that has raised more than $2M in funding. The startup uses the blockchain of Stellar Lumens for its micropayment services.
Bernd Fortsch – the CEO and founder of Borsenmedien – said that the acquired stake would enable them to incorporate a pay-per-article scheme on their online platforms. In a statement, the CEO said:
“There is a gap between cheap content that can be bought on a pay-per-article plan, without stress. The nano payment solution of SatoshiPay is the bridge that fills the gap. We are happy about the stake we acquired in SatoshiPay. We are also excited about the forthcoming integration of SatoshiPay’s solution on our online portals.”
Borsenmedien is a top financial information media house for countries that speak the German language. The firm was founded in 1989. DER AKTIONAR is the largest stock magazine in Germany, and it is issued by Borsenmedien. SatoshiPay uses XLM to process its services. The acquisition of stakes in SatoshiPay by the media firm shows that there is an increase in demand for Stellar Lumens.
This case is similar to that of Ripple’s product, xRapid. xRapid uses XRP (XRP) to process international transactions. Whenever a top financial firm adopts xRapid, the value of XRP (XRP) surges significantly. Stellar Lumens (XLM) is somewhat following the same bullish trend. The adoption of its products results in significant bull runs.
With more positive news and development around the digital currency, its awareness and adoption will increase. An increase in its adoption will result in an increase in its value.
Read more at our source: https://smartereum.com/48831/stellar-lumens-price-prediction-why-did-stellar-lumens-xlm-record-gains-of-more-than-11-over-the-weekend-xlm-stellar-bull-run-xlm-to-usd/
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