HomeNewsStellar Price and Usage Blast Off Together

Stellar Price and Usage Blast Off Together

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  • Stellar’s price experienced a 3.1% increase in the last 24 hours, hitting $0.09, with an over 15% increase in the past week.
  • Stellar Ramps, a new system introduced by Stellar, allows for seamless integration between digital wallets and a global network of anchors, facilitating easy transfers between fiat and digital assets.

In the rapidly fluctuating world of cryptocurrency, Stellar has caught the market’s attention with a 3.1% rise in its value over the past 24 hours, hitting $0.09. Over the preceding week, Stellar’s digital currency, XLM, has witnessed a robust surge of more than 15%, soaring from $0.08 to its current valuation. As it stands, Stellar’s all-time high price remains at $0.88.

Assessing Stellar’s volatility through Bollinger Bands reveals a wide-ranging fluctuation in both daily and weekly price movements. The wider the bands or the larger the gray area, the greater the volatility.

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Despite this encouraging price escalation, the trading volume for Stellar’s coin has dipped by 3% in the past week, mirroring the trend of the coin’s overall circulating supply, which has seen a modest decrease of 0.18%. This current decline pegs the circulating supply at 26.91 billion, accounting for approximately 53.81% of its max supply of 50 billion. Stellar’s market cap ranking, as per our data, currently stands at #29, with a valuation of $2.34 billion.

Looking beyond the trading metrics, Stellar has made significant strides in the field of digital wallet integration. Last year saw the introduction of Stellar Ramps – a comprehensive suite of open standards aimed at enabling digital wallets to connect to a global network of anchors that provide on and off-ramp services on Stellar.

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These on and off-ramps play a crucial role in transferring value between fiat and digital assets on the network. They facilitate conversions of cash, bank cards, wire transfers, airtime, and more into digital assets, serving markets worldwide. As Stellar’s network of on and off-ramps continues to grow, there are more payment services available for Stellar-enabled digital wallets to connect to.

Stellar Ramps offers two kinds of integration: Anchor-hosted on and off-ramps, which allow wallets to directly integrate an anchor’s deposit and withdrawal interface, and Anchor API-based on and off-ramps, which let wallets connect to an anchor’s deposit and withdrawal services through an anchor-provided API. Wallets participating in the MoneyGram Access™ program, for instance, use Stellar Ramps to integrate MoneyGram’s payment rails and offer cash-to-crypto on and off-ramps across 180+ countries.

This novel integration system serves as a linchpin between on and off-ramps and wallets on the Stellar network, enabling the connection of traditional fiat payment services to Stellar.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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