Stellar Price Rises by 10% After USDC Heralds it as "Official Chain"

Stellar Price Rises by 10% After USDC Heralds it as "Official Chain"

Gate Trade News Sunday, October 18, 2020 25 0

Good news for Stellar owners today, who through no effort of their own increased the value of their holdings by 10% in the past 24 hours. The value of a single Stellar, or XLM, is now $0.08.

 

The price hike could perhaps be attributed to Thursday's announcement that USDC, the US dollar-pegged stablecoin led by Coinbase and Circle, will integrate with the Stellar blockchain at the start of next year.

 

This makes the Stellar blockchain, which is powered by the eponymous cryptocurrency that just rose by 10%, a popular choice for businesses seeking to integrate USDC. USDC is the only major US dollar-pegged stablecoin supported by the Stellar blockchain.