Why is Stellar (XLM) price up this week?
Stellar’s pre-announcements may have caused traders to create multiple scenarios for potential XLM developments, but their impact on the XLM price could be short-lived. The Stellar token experienced a notable 11.5% increase in value between Sept. 2 and Sept. 8, a novelty given that Bitcoin and most altcoins are down for the week. The surge came after Stellar (XLM) tested the $0.113 support level, which marked its lowest point in the past eight weeks. The price upswing followed a preliminary announcement made by the Stellar organization on social media. While the announcement was somewhat cryptic, it hinted at something significant occurring on Sept. 12, with phrases like “something cool is dropping” and "change” on the horizon. XLM price in USD at Bitfinex, 12-hour time frame. Source: TradingView More recently, on Sept. 7, Stellar further heightened expectations by teasing a potential partnership. However, similar to the earlier announcement, no specific details were provided,...