Stellar Lumens Welcomes 2018 with a 30% Price Surge

Stellar Lumens (XLM) had a great start this year following a leap of 30% on the first day of 2018.

Within just a few weeks, the market cap of this altcoin has doubled, keeping a stronghold on one of the world’s 10 largest cryptocurrencies to date.

This was after a number of investors rallied behind Stellar Lumen’s strong position as one of the fastest and most customizable virtual currencies.

It spiked at an impressive 31% reaching an asset value of 0.4547 dollars on January 1, 2018. At around 6:44 on that same day, this digital currency peaked at 0.4670 dollars.

This means it has put itself on track for reaching the highest settlement on record, according to historical data on CoinMarketCap.

  • The trading volume in XLM rose to 439 million within a short span of 24 hours.
  • This was equivalent to roughly 33,000 Bitcoin

Majority of the transactions were handled by two exchanges namely Bittrex and Poloniex. A small fraction of the daily turnover is processed by Bitcoin Indonesia and Binance Kraken.

Experts believe that partnerships with several technology companies and financial institutions have driven the six-fold increase within just a month.

Specifically, the project with IBM which aims to establish a major Blockchain solution is one of the biggest announcements made in the last quarter of last year.

At present, Stellar Lumens continues to call for partnerships which primarily focuses on anchors and exchanges. Details on how to be part of the Stellar Partnership Grant Program are featured on their website.