Stellar Lumens (XLM) has been having an amazing 2019, even considering the massive nose-dive it suffered alongside nearly every other altcoin at the beginning of 2019.
However, the coin had been knocking at Litecoin’s door, preparing to take the number six position on the market, and thanks to the new bitcoin bull rush, it was able to jump up to nearly $2 billion in market capitalization, but still was not able to overtake LTC.
In fact, the coin is currently on 9th place on coinmarketcap, but the numbers don’t lie.
Massive jump last week
The bitcoin trend was one of the largest contributing factors towards XLM’s growth on the 10th of May. The percentage is quite mixed as the price is still in constant development but it can be easily said that the price surged from $0.089 a piece to breaking the $0.1 price point within just 2 days. All the while increasing the market capitalization by more than $200 million.
However, the momentum has stopped for XLM and it is currently in a limbo of uncertainty. Due to relatively quiet markets today, it is not expected to see massive jumps during this week, but that still remains to be seen.
There is currently an upwards spiral forming to drive the price towards the $0.1008 mark but that’s about it. Judging from the previous performance it is hard to believe that any major gains are going to occur.
But due to the fact that the market had quite a busy weekend last week, it is expected that it will be much more lively this week, but not as much for Stellar.
Overall, one of the most important market developments that XLM investors should watch is BTC performance. Another small bull rush is guaranteed to drag XLM along, potentially breaking the $0.12 mark.
- Bitcoin is the primary XLM price driver
- Due to a busy weekend, it’s expected that this week will be passive for Stellar
- Going above $0.1 is already a massive leap