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Stellar raise by 20 percent after Stripe’s announcement

Stellar has been seeing slower days almost most of the January. The cryptocurrency market made a bullish pivot, and Stellar just shot to 7th place in top 10 cryptocurrencies. It ripping past $0.50 to reach present value of $0.54 on BIttrex. Stellar now has $9.9 billion worth market cap hat not only makes it seventh largest cryptocurrencies, and places it $25 million just behind Litecoin.

There are several factors that can fuel this bull run.

First of all, Stripe, mobile payment processor, today announced that it may add XLM as a payment option in future. Earlier today, the company announced how it is going to wind down Bitcoin payment, but still supports cryptocurrencies and boosts altcoins.

“We may add support for Stellar (to which we provided seed funding) if substantive use continues to grow,” Stripe’s Tom Karlo said, adding that the company was also interested in the Lightning Network, OmiseGO, and various other projects.”

This followed by Reddit CEO Alex Ohanin Sr. tweeted their support for STR and also said project’s subreddit is “definitely worth subscribing to”.

Another factor can be the release of Stellar’s updated roadmap, which may or may not be adding excitement to today’s climb.

Lastly, Stellar mostly posts gains when Ripple’s XRP is outperforming the market, and today was nothing different. Today Ripple reported 10 percent rise, to be one of the best performances today.

 

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