Stellar Price Jumps on Speculation Ahead of Announcement While Crypto Market Slumps

Stellar (XLM) price surged 11.5% between Sept. 2-8 while most cryptos were down. The increase followed teasers about a Sept. 12 announcement.
Speculation circulated about Elon Musk integrating XLM into Twitter/X after it got a currency transmitter license, but XLM's small market cap makes this unlikely.
In August, Stellar Development Foundation invested in MoneyGram to expand digital business and blockchain exploration. This allows easy cash deposits/withdrawals via Stellar.
Stellar is preparing to launch a smart contract platform called Soroban. It has a $100M fund to encourage developer activity.
XLM investors eagerly await Sept. 12 announcement, but significant gains past $0.14 seem unlikely without concrete details about partnerships/features unlocking payment network potential.

cointelegraph.com

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Posted 9/8/2023, 8:15:00 PM