Stellar up almost 200% in the last 7 Days, Here is why

The year started greatly for altcoins like LTC, ADA, DOT and LINK, However one of the biggest winners since the start of 2021 has been Stellar, Ticker: XML.  Stellar has gained more than 180% in the last 7 days and is up almost 70% in the last 24 hours as of writing this article.

Investors might be wondering what caused this kind of price surge, so here are some updates for you:

The government of Ukraine chose the Stellar blockchain network as a platform for developing a digital currency central bank (CBDC). A memorandum of understanding was signed on Monday by the Ministry of Digital Transformation of Ukraine and the Stellar Development Foundation (SDF) to create a “virtual asset ecosystem and the national digital currency of Ukraine.”

According to Digital Transformation and IT Deputy Minister Oleksandr Bornyakov, the National Bank of Ukraine has been investigating the possibility of implementing CBDC since 2017, and the Stellar partnership will now be the basis of its virtual currency growth.

In addition, it seems that XLM gains from the U.S. The recent OCC decision to allow US banks to use public blockchains and dollar-backed stablecoins as a financial system payment infrastructure, and since Ripple is under scrutiny now, Stellar’s XLM is gaining most of the attention from investors.

So what’s next for Stellar? According to technical analysis and trading signals that we are receiving investors are still very bullish regarding XML and it`s still good time to buy and benefit from this up-trend. Here are some of the technical signals:

You can start investing in Stellar with our trusted partner Binance. Just click on button bellow:

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