Stellar’s XLM Spikes 10 Percent As Coinbase Exposes It to New York Traders

Libra Coin News
Thu, 09/26/2019 - 12:39
Yuri Molchan
US-based Coinbase exchange has launched trading pairs with Stellar (XLM) and Chainlink (LINK) to New York traders, XLM outperforms the top 10 coins by surging 10 percent
Cover image via www.123rf.com
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Today, XLM coin of the Stellar blockchain has exceeded the top coins by value when it surged 10 percent. This coincided with a report from Coinbase saying that it has launched trading XLM and Chainlink (LINK) for New York investors.

Coinbase exposes XLM and LINK to New York traders

Earlier today, the major US-based Coinbase exchange tweeted that New York traders are now allowed to work with XLM and LINK. The exchange exposed these coins to its customers in other regions earlier this year, in March (XLM) and June (LINK).

New Yorkers can now trade and store these tokens both on Coinbase.com and on the company’s mobile apps on iOS and Android.

On this news, Stellar recorded a 10-percent surge and it keeps climbing, as per data from CoinMarketCap. Currently, XLM occupies spot #10 on CMC and is the best performing asset among the top coins.

Image by CoinMarketCap

LINK is ranked 18 and at press time is trading at $1.72, showing a rise by 0.56 percent.

Image by CoinMarketCap

Chainlink’s LINK is based on the Ethereum network. The platform provides a connection between blockchain contracts with oracles that generate market data.

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XLM vs XRP

XLM is a rival of Ripple’s XRP, designed as a payment system for financial institutions and just like XRP, XLM is believed to be centralized.

One of Stellar’s founders is Jed McCaleb who keeps receiving payments from Ripple. As reported by U.Today recently, McCaleb received 100 mln XRP ($26,322,440) from Ripple – the transaction was spotted by Whale Alert.

This brought another wave of indignation from the XRP community, where many believe that Ripple prevents the coin’s price from rising by continuous XRP dumps.

Recently, XLM showed a massive rise by 40 percent which a few days later changed to a 12-percent drop due to whale activity on the crypto market.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.


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