Stellar (XLM) surpassed EOS to become the fifth largest Cryptocurrency by market cap. Its market cap increased by almost 12% this week adding more than half a Billion.
Despite a majority of Cryptocurrencies registering losses this week, XLM has increased by over 15%. It has skyrocketed even more in terms of BTC denomination by almost touching 4400 Satoshis which is highest in over 5 months.
XLM is gradually rising in price today trading at $0.27 at the time of writing, with volumes reaching $115 Million in the past 24 hours. A majority of volume comes from Binance where it is the fourth highest traded Cryptocurrency after Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH).
The major reason why we are seeing this pump comes from the Coinbase listing rumor. Stellar is one of the five Crypto assets that Coinbase is looking at to list on their platform. The exchange giant has already listed 2 out of 5 assets including BAT and 0x.
Although there are no guarantees that Coinbase will list all the tokens, the coins are still pumping hard. BAT dumped hard after being listed on Coinbase following the classic “Buy the rumor, Sell the news”. Stellar could end up with a similar fate.
Stellar also recently announced the biggest airdrop in the history of Cryptocurrencies worth $125 Million with Blockchain.com wallet. Stellar will not only get visibility to the 30 Million Blockchain users but also new users who will be attracted by the airdrop.
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