XLM has been making waves in the market recently.
The Stellar token recorded a new price height in the four weeks. According to market data from Bitfinex, XLM recorded a massive gain as it traded at $0.1188 on September 20. The sudden surge was reflected in XLM trading volume and its market cap, as recorded within that period.
Currently, XLM hasn’t dropped this buoyant market performance, and the token is giving a strong indication of what might be a bullish run. Currently, XLM is trading at $0.1165, which reflects a noticeable 1.81% increment in the last 24 hours.
Possible reason for the surge
The notable development coincides with the announcement of a partnership between Stellar Lumens and Tildamail on September 20.
With the collaboration, users of Tildamail can seamlessly send XLM and USDC on the private email system. According to reports, the partnership would aid more utility for XLM, and it’s already playing its role, much to investors’ surprise.
It’s too early to conclude that the collaboration is already attracting liquidity for the token.
Notwithstanding, the general volatility of the cryptocurrency space comes to play again. It’s safe to say that the collaboration news aided the increment because it occurred shortly after the announcement. Above all, holders of XLM should be smiling at the moment due to the surprising surge.
Increasing activity on the Stellar network
Similarly, Stellar Lumens has witnessed a sizeable improvement in activities on its network. Activities on the Stellar network soared after enduring a transaction setback around September 15. StellarDataFeed revealed that between September 19 and September 20, transactions on the Stellar network soared from 3,557,034 to 4,217,397.
Current state of XLM and investors’ expectation
Occasioned by the partnership and the increasing transaction on its network, XLM is showing positive market performance.
So far, the run is currently on a stable level resisting market pressure. Indications from StellarChain reveal that about 3,574,323 transactions have occurred on Stellar Lumens Decentralized exchange. Also, the Market cap and last 24 hours trading volume of XLM has dropped by a minimal percentage.
Both are currently sitting at $2,819,596,598 and $258,024,333, respectively.
