This day seemingly keeps getting better and better for all cryptocurrency markets. More specifically, the Stellar price is also making some notable gains as we speak, which is rather interesting. Thanks to a solid 18% gain, the Stellar price is back up to $0.45. It almost seems like ages ago since we last saw this value, even though the Stellar price hit that same value just four days ago.
It is always interesting to see how different cryptocurrency markets evolve. Over the past six weeks, most markets have suffered major losses, and it seems this trend is not entirely over just yet. At the same time, we see some markets note some major gains, which can only be considered to be a good thing.With the Stellar price now heading back to $0.45 and potentially higher, things will get a lot more exciting from here on out. This does not necessarily mean we will see more Stellar price gains in the future, though, but things may turn out in a positive manner for all we know.
With a solid 18% gain in USD value over the past 24 hours, the Stellar price has risen from $0.38 all the way to $0.452 without meeting too much resistance. it is only a matter of time until things turn back in the right direction for all cryptocurrency markets. Right now, there is still over $300bn in total market cap waiting to be recovered throughout 2018. If the Stellar price is any indication, things may turn around rather quickly as we speak.
It is also worth noting the Stellar price represents a 10.16% gain over Bitcoin. Even though the Bitcoin value has been on the increase as well in the past few hours, it’s good to see alternative currencies note gains in their respective BTC ratio right now. In the case of Stellar, the BTC ratio now sits at 0.000049 BTC, which is more than respectable. There will be some interesting developments affecting all markets in the future, by the look of things.
With $281.84m in 24-hour trading volume, the demand for Stellar is anything overwhelming right now. The same still applies to all other cryptocurrency markets, as a lot of markets are still down by quite a margin as of right now. When this trading volume picks up for all cryptocurrencies again, things will get pretty interesting moving forward. Stellar has never had the multi-billion Dollar volume, though, and the current number is more than fair for this particular market.
It does appear South Korea is pushing the Stellar trading volume as of right now. Upbit’s XLM/KRW pair represents over 40.5% of all trading volume in the past 24 hours, which is more than the rest of the top five combined. There’s also only one fiat currency pair in the entire top five right now, and the South Korean volume doesn’t impact any international markets whatsoever. Whether or not we will see any Western markets show any interest in XLM over the coming hours, remains to be seen, though. For now, it seems all other exchanges are well below the $30m threshold right now, but things can always change in quick succession in the cryptocurrency world.
For now, it remains to be seen what the next few days will bring for the Stellar price. Although the current trend seems to indicate things will only get better from here on out, there is no reason to think cryptocurrency markets are out of the woods just yet. For all we know, this is the prelude of another big drop in prices. We can only hope that is not the case, though, as there has been enough market volatility to contend with already.