Stellar Lumens (XLM) Celebrates 1 Million Accounts Registered On Their Ledger
Stellar is celebrating an extraordinary achievement these days. Stellar has recently set a new milestone and recorder no less than 1 million accounts on their ledger.
Stellar’s market cap is more than $4 billion. Despite the bearish trend that lingered over the crypto market this year, Stellar enjoyed a massive addition to its value, and it marked itself at the 6th position based on its market cap, according to CoinMarketCap.
XLM is currently trading in the green at $0.231379.
Stellar acquired Chain
According to the latest data, more than 300,000 accounts have been registered only since July from the 1 million total of accounts.
Stellar’s recent significant achievements include the acquisition of Chain which is a San Francisco based start-up building blockchain tech for the financial industry.
The data shows that the trading figures have drastically reduced by 95.5% in more than two months. The number of trades in June was 265,165 and they have been reduced to 6,447.
Stellar packs the financial resources and Chain comes with the engineering talent.
A source close to this deal revealed that these steps had been taken likely in response to the heated battle for top developers between crypto companies.
More important partnerships
Another great news was the fact that China’s largest crypto exchange platform Huobi started trading XLM on the platform.
IBM tech giant also confirmed that Stellar’s token would be used by some of the biggest banks in foreign exchange corridors.
Stellar also announced that it teamed up with Satoshi pay, EXCH.ONE, Kilck-Ex, Mobius and HashCash.
All these essential partnerships and the fact that Stellar is still focusing on helping startups attracted the interest of more investors, and the company is gaining more and more popularity.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.