According to CoinGecko, XLM shifted upwards by almost 10% gaining in an environment where the majority of altcoins are still experiencing pain. Related Reading: Polkadot Developments Show Strength, Despite Coin’s 18% Loss The Stellar network’s current bullishness can be largely attributed to recent developments that show the platform’s commitment to bringing crypto within reach of the average Joe. Decaf On Stellar This week, users on Stellar are rejoicing as Simplex recently announced that due to their partnership with the platform, USDC is now supported on Stellar which increases the convenience of using the platform.
NO FEES for early access: 1 USD = 1 USDC 😱 pic.twitter.com/FVYkiQ8Gu2 — Decaf ☕ (@Decaf_so) August 7, 2024 Most importantly, it will assist individuals in countries where the financial system is often lacking. In an interview with Stellar, Decaf Co-Founder and developer Fernanda Orduna stated the reasoning behind the platform: "They don’t have many options.
XLM’s high correlation with Bitcoin will play a part in this affair. Related Reading: Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss But Stellar’s entry in providing blockchain solutions to real-world problems might help slow or stop the bearish tide.
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