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Stellar price (XLM/USD) surges on Bithumb listing

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The Stellar price (XLM/USD) has gained more than 7% over the past 24 hours, outpacing all of its top 10 crypto rivals.

The fifth-largest digital currency on the market experienced a couple of drops yesterday that brought its price down to a one-month low of $0.215. However, Stellar’s performance improved during the final hours of the session, which allowed the coin to finish the day in the positive territory. The coin closed the session at $0.241, up from its opening level of $0.233.

Stellar has seen further gains on Friday, with its price rising to an intraday high of $0.247 during the morning session. The advance has slowed down in recent trading, but the coin has so far managed to hold above the $0.24 mark.

Stellar’s rally was likely triggered by news that the token had gained listing on South Korea’s largest cryptocurrency exchange, Bithumb. The South Korean company announced the move yesterday on Twitter, saying that trading would begin on November 16.

The advance has been supported by a significant increase in market activity. Recent market data shows that around $120 million worth of XLM tokens have changed hands over the past 24 hours. This is significantly higher than the $97.3 million that were generated during yesterday’s trading. The world’s largest digital currency exchange, Binance, remain the most popular destination for XLM trades, having captured 36.7% of the 24-hour volume. Meanwhile, Bithumb’s chief competitor in South Korea, Upbit, ranks second, with a 15.5% share.

In today’s trading, the Stellar price stood at $0.241, as 15:35 GMT. The digital coin has gained 7.3% in the past 24 hours. The coin’s total market cap currently stands at $4.5 billion.

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