Stellar Lumens for two days increased by 30 percent. Is it to do with rebranding?

The second week of March was very pleasant for Stellar Lumens. Coin jumped by 30 percent just in the last two days. Although accurate data on the causes of growth yet, enthusiasts attribute the jump to the rebranding project. As noted by analysts, this jump could mean the end of the bear market for altcoins. 8 March 2019 price XLM reached its long term support level around 8 cents. However, after that bulls pushed through new levels and now the coin is worth more than 10 cents after a small adjustment local maximum at 11 cents.

It should be noted that during the correction of the XML fell to 9 cents and then went back into growth in an attempt to demonstrate the double top. This would mean a bearish market. The market capitalization of Stellar also exceeded $ 2 billion, although it fell back slightly.

Source: TradingView

The Stellar Development Foundation in his blog, explained what led to the rebranding. According to them, the old logo seemed too cartoony and not serious. That is, it is not particularly suited to work with major banking institutions. As explained by the company itself, the logo is designed in the form of the planet Saturn. It is formed from the letter S, which binds the Association to Stellar.

Source: Blog Stellar on Medium

It is worth noting that the community met the new logo with conviction. Some were tweeting that the logo has become as soulless as most of the other cryptocurrencies.

We will remind, at the end of last year, one of the largest cryptoservice Blockchain has integrated support for Stellar coins in your wallet. Then as the advertising company arranged airdrop token XML $ 125 million.

More data look at cryptodata. The current rate of coins can be found in our classroom ranking of cryptocurrencies.

Subscribe to our channel in the Telegram. Here soon!

Leave a Reply

Your email address will not be published. Required fields are marked *