The Stellar price rallied by 10% this Thursday, outpacing its peers in the market recovery from Wednesday’s precipitous slump. The price was everywhere in the headlines – with its double-digit percentage advance – carrying a seven-day performance back into positive territory.
Stellar (XLM) is now up 3% from last week and is currently valued at $0.37 at Binance. After the dip below $0.33 earlier this day, now Stellar has a $7 billion market cap becoming eight on the total market cap charts with a $1.8 billion advance over its closest competitor.
The trading volume of Stellar is also well-distributed, especially for an altcoin. There is no single exchange accounting for more than a quarter of the token’s global volume. More importantly, a significant amount of XLM trading is currently concentrated in South Korea where Stellar trades at a slight premium.
The single-day price rally is an obvious trigger that Stellar is recovering, just like the market cap which has been up and down the $400 billion number (after dipping to $380 billion). Currently, the total market cap is at $395 billion which represents a 4% recovery.
While Bitcoin and Litecoin remain in red for the day, the other cryptocurrencies from the top 10 list have managed to rise against the dollar. One of them is Ethereum, with a price that increased by 2% to $630. Another one is Ripple, increasing 1% to the current price of $0.80.
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