Stellar Lumens (XLM) has shown significant growth over the past week, increasing by 87% and reaching $0.52. This article examines the factors contributing to this surge, including its correlation with XRP and the differences in the ecosystems of both tokens.
Stellar Lumens Growth
Stellar Lumens (XLM) drew significant attention last week, increasing from $0.107 to $0.154, marking a 45% gain against XRP. In dollar terms, XLM closed the week around $0.43, over 70% higher than previous levels.
Correlation with XRP
According to the 100-day correlation index, XLM and XRP exhibit a close connection of 0.95. This highlights their linked price movements and shifts in market sentiment. With XLM's recent growth, a positive sentiment return is noted in the market, as evidenced by a rising trading volume between these two assets.
Ecosystem Differences Between Stellar and XRP
Despite both XLM and XRP being co-created by Jed McCaleb, their developmental paths have diverged significantly. XRP is focused on institutional and enterprise financial systems, while Stellar emphasizes open financial systems and peer-to-peer transfers. These differences are increasingly reflected in trading behaviors and community sentiments.
Thus, Stellar Lumens is showing significant growth amidst a positive outlook in the cryptocurrency market, especially due to its tight correlation with XRP and the divergent strategies of both ecosystems.
