Stellar Price Soars 20 Percent After Stripe Teases Support

Stellar price leaped by 20 percent after payment processor Stripe teased that it may add support for XLM in the future.

The cryptocurrency markets made a bullish pivot this morning, and Stellar is leading the charge.

After spending most of January on a gradual decline, the Stellar price leaped by 20 percent on Wednesday, ripping past $0.50 to reach a present value of $0.54 on Bittrex.

Stellar now has a $9.9 billion market cap, which makes it the seventh-largest cryptocurrency and places it just $25 million behind sixth-ranked litecoin.

More than half of all XLM trading volume is concentrated on South Korean exchange Upbit, where it is traded against the won, while XLM/BTC pairs from Binance, Bittrex, and Poloniex make up most of the difference.

Stellar often posts huge gains on days when ripple’s XRP token is outperforming the market index, and this was the case again today, as the ripple price’s 10 percent increase is one of the day’s better performances.