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Stellar (XLM), a blockchain protocol recognized for its payment capabilities, has successfully recovered from its previous lows, showing the power of community and courage in the history of the currency. According to data from CoinMarketCap, Stellar is up 4.3% at the time of writing to $0.122. The stellar bounce is not yet fully integrated as the coin’s seven-day performance still shows some bearish trends with its 4.99% drop.
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Stellar’s utility approach
Stellar has a healthy approach to sustaining its ecosystem. While many crypto projects implement campaigns like burning and other deflationary tokenomics, Stellar is very confident in their usefulness in defining the pace of XLM demand and subsequent price growth.
Most of the milestones it has recorded so far this year, U.Today reports, have largely focused on its role as a formidable payment alternative. Notably, Stellar signed a partnership with fintech company Moneygram International in September to advance its cryptocurrency payment capabilities.
The partnership includes the creation of a crypto wallet to better serve Moneygram’s global customer base. This partnership is a complement to the strategic investment that the Stellar Foundation made in Moneygram, a move that helped the crypto protocol secure a seat on the company’s board of directors.
Over the past year, Stellar has also advanced its reach on key platforms like Robinhood, improving its overall accessibility for users.
Riding the XRP sentiment
Stellar’s prospects over the past three months could have been influenced in part by the legal clarity secured by XRP, as federal judge Analisa Torres declared that its programmatic sales on exchanges do not constitute securities.
While the United States Securities and Exchange Commission (SEC) is not behind Stellar at this time, because the protocol maintains a similar value proposition to XRP, it has the perfect precedent to present if it ever goes down that path. .
