Stellar With A New 15% Surge, XLM Reaches $0.10 Again

The latest edition of our cryptocurrency expert analysis focuses on the Stellar (XLM) altcoin which has managed to grow over the past week and finally retraced to its $0.10 price origins. The cryptocurrency has continued to pump and made the crypto news again, adding a further 10% on the day as XLM reached $0.10 again.

This six week high has allowed XLM to increase its market cap to about 5 billion as it closes up on Tether in eight place.
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News also showed that a German media company named Börsenmedien AG has announced that they were purchasing stakes in SatoshiPay a few days ago, which in turn helped initiate Stellar’s run.

Besides this, there doesn’t really appear to be any influence or major fundamentals driving the momentum for XLM, aside from the upcoming expectations and the Money 20/20 conference. One Reddit user described the situation nicely in a comment on the website, saying:

“Some folks will never learn. Many proceed to FOMO into anything that’s remotely pumping and chase them instead of holding good positions …”

Looking at the top twenty, a similar picture can be observed with NEO and Ontology dropping 2% each. Currently, the only altcoin that is holding on to a green gain is Ethereum Classic (ETC) – but this is only marginal.

Outside the top twenty, Tezos has a good pump of 9% on the day. Project PAI (PAI) is also getting a 22% pump which took the altcoin to $0.065 – pumping and dumping over the past few days as it appears that is mainly “FOMO driven.”

The only altcoin that has dumped doubles yesterday was Kyber Network. The cryptocurrency has managed to drop by 20% on the day and wiped out all of its recent gains. Aside from it, Ravencoin is also falling back today as it dropped around 10% of its value. Even though these altcoins are not that popular, they definitely play a huge part of the altcoin movement this Monday.

The total cryptocurrency market capitalization has not moved much over the past 24 hours. Currently, the market cap remains at $135 billion which is up from yesterday’s values. The daily volume has dropped back to $30 billion as momentum has cooled off and the consolidation has continued.