Stellar (XLM) price gained up to 10 percent in the last 24 hours after the listing on the Coinbase Pro cryptocurrency exchange in New York as we are reading further in the latest news on altcoin.
Stellar is still among the top cryptocurrencies by market cap and is now leading the pack of gainers after the exchange listing. Shortly after falling against the US dollar to the yearly low of $0.052 earlier this week, Stellar has now successfully recovered to $0.0503 after posting gains of more than 9 percent on Thursday. The increase in price coincides with the cryptocurrency exchange Coinbase Pro’s announcement that Stellar will now be available for trading on the platform in New York without any restrictions. The drop in price for Stellar earlier this week came just after the altcoin had surged to a two-month high of more than $0.90 last week after it increased by about 30 percent.
Beside the Stellar (XLM) price, the volumes also surged by more than 12 percent and this is the largest increase among the top 10 cryptocurrencies by market cap according to Coincap. Stellar’s listing on Coinbase Pro in New York comes after five months since the Coinbase Wallet started providing support for the cryptocurrency. The price surge also comes months after the altcoin was made available on Coinbase Pro in the supported jurisdictions of the exchange but with the exception of the New York state.
Besides Stellar, Coinbase Pro also announced some other coins to be joining the platform as we read in the altcoin news today also without any restrictions. This includes Algorand (ALGO) and Chainlink (LINK). However, unlike Stellar, both of the altcoins didn’t benefit as much after the announcement. Chainlink which is now ranked at the 18th position by market cap, increased only 1.66% in the past 24 hours and Algorand on the other hand, has actually decreased. Over the past 24 hours, the cryptocurrency which is ranked on the 64th position by market cap dropped again by 24 percent. Both of the altcoins were available on Coinbase and Coinbase Pro for weeks. Algorand was launched on Coinbase Pro at the end of the summer and Chainlink became available on Coinbase in late June.
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