Stellar price (XLM/USD) picks up after slow Friday start

The Stellar Development Foundation appoints former Mozilla COO as new chief executive

Stellar price (XLM/USD) picks up after slow Friday start

After losing momentum during yesterday’s afternoon and today’s early trading, the Stellar price (XLM/USD) now seems to back on the offensive.

Stellar was the standout performer in the crypto top 10 during yesterday morning session, when the coin’s price rose to an intraday high of $0.111. XLM’s performance weakened in the afternoon, which prevented the coin from finishing the day in the positive territory. Stellar closed the session at $0.107, slightly below its opening price of $0.108.

Stellar continued to move on a downward trajectory during the early hours of today’s session, which led to it falling to an intraday low of $0.105. However, the coin has since managed to steady the ship and renewed its advance toward the $0.11 mark.

The initial rally was driven by the Wednesday announcement that Stellar had been listed on Coinbase’s professional crypto trading platform. The four-stage launch has been completed and XLM is now fully tradable on Coinbase Pro, with three trading pairs available to users – XLM/USD, XLM/EUR and XLM/BTC.

In other Stellar-related news, the Stellar Development Foundation (SDF) appointed Denelle Dixon as its new executive director and chief executive officer. The former COO of Mozilla succeeds on the post Stellar’s co-founder Jed McCaleb, who will move into a role as chief architect, where he will focus on the network protocol and Stellar's adoption strategy.

“We're thrilled to have Denelle lead the Stellar Development Foundation through its next phase of growth," McCaleb said in a press release. "Denelle's long experience leading operations and business at Mozilla, as well as her work on the policy side, with advocacy around Open Internet and encryption and privacy, will be indispensable to SDF in the coming years."

In today’s trading, the Stellar price stood at $0.107, as of 16:41 GMT. The digital coin has lost 0.5% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap.

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