‘Next Coin to Surge’: Stellar Price Soars 28% after Hedge Fund Manager Pump

The stellar price surged 28 percent after cryptoasset hedge fund manager and CNBC contributor Brian Kelly said that XLM could be the “next coin to surge.”

Stellar Price Leaps 28 Percent
The stellar price entered 2018 knee-deep in a breakneck 338 percent rally, rising as high as $0.92 on Jan. 4 after trading at $0.21 just one week prior. Ultimately, however, XLM failed to reach dollar parity, and the token endured a 53 percent correction that reduced its price below $0.44 on Jan. 11 during intraday trading.

On Friday, however, the stellar price leaped out of its week-long rut and began to scale the charts more quickly than any other top 10-cryptocurrency, save EOS. At present, the stellar price is trading at $0.68 on Bittrex, which represents a single-day increase of 28 percent and a 50 percent increase from its intraday low. Stellar now has a $12.4 billion market cap, which makes it the eighth-largest cryptocurrency according to this metric.

stellar price
XLM Price Chart
A plurality of stellar’s trading volume is located on Binance, a rapidly-expanding cryptocurrency exchange that reportedly registered 240,000 users in a single hour earlier in the week. At present, more than 43 percent of all XLM trading is concentrated on this exchange, where stellar’s token trades against BTC, ETH, and BNB. Bittrex and Poloniex comprise the majority of the remaining XLM volume.