Steller Lumens [XLM]’s price sees sporadic yet a steady rise since launch of Starlight

Stellar Lumens has been sporadic since the last few days and has surged by 2.32%  in the 24-hour range. This might partly be due to the launch of their payments channel, Starlight. A rather far-fetched speculation about the rise in price could be due to Bithumb’s partnership with SeriesOne to launch an exchange for regulated security tokens.

The price on November 2 was at $0.2242 with a $4.2 billion market cap, it surged briefly to $0.2293, while market cap surged by $100 million at 20:24 UTC. There was a sharp spike which pushed the price to $0.2362 and market cap by another $100 million on November 3. The 24-hour volume, however, increased by 10 million during this spike.

Stellar recently made the news when it launched a bidirectional payments channel called Starlight, which inculcates a multi-hop mechanism to make transactions happen instantly.

Binance contributed approximately 20% of the total trade volume paired against BTC and USD. Next to Binance, were GDAC and BCEX, that contributed approximately 19% each. The price continued to rally in the $0.23 range for quite a while, with the market cap in a $4.4 billion range.

The price reached a maximum of $0.2372 and has stayed under ever since, while market cap topped at $4.48 billion The current price of XLM at the time of writing at $0.23606 and a total of 18.9 billion coins in circulation. The market cap at the same time was at $4.4 billion and total trade volume was at $56 million.