Axelar

Stellar

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The broader digital currency ecosystem is seeing a return to a bullish trend, with specific altcoins, including Stellar (XLM), helping to push the rally to new pedestals. The Stellar payment protocol has been on a steady positive run since the start of the week, but today, it has <a href="https://coinmarketcap.com/currencies/stellar/" rel="noopener noreferrer nofollow">added</a> a massive 23% growth in overnight trading to peg its price at $0.1683. 
The current growth momentum underscores the unrelenting efforts by Stellar buyers to push XLM to new highs. Over the past week, the crypto has soared as high as 74.38% in what can be classified as one of the best weekly rallies for Stellar since the start of the year. 
<a href="https://u.today/xrp-victory-boosts-stellar-xlm-by-54-more-to-come" rel="noopener noreferrer nofollow">card</a> 
The key growth metrics are complimentary for this run as the trading volume is currently up by more than 240% to $1 billion. While the sustained interest in and buy-ups of XLM are key reasons for the ongoing price rally, the growing adoption of Stellar protocol's Axelar network in LATAM is also a major contributing factor. 
According to earlier <a href="https://u.today/stellars-xlm-impressive-10-rally-heres-probable-cause" rel="noopener noreferrer nofollow">reports</a>, the USDC resident on the Stellar network has been recording massive adoption as a payment method in Africa and, <a href="https://twitter.com/jerallaire/status/1681673576510812160" rel="noopener noreferrer nofollow">more recently,</a> LATAM. This embrace underscores the core goal of Stellar, which is to bridge the financial gap by providing a seamless payment model that is easily accessible to everyone. 
<blockquote class="twitter-tweet"> 
 .<a href="https://twitter.com/StellarOrg?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@StellarOrg</a> USDC continues to gain traction as a fast, low cost Layer 1 for digital dollar payments around the world. <a href="https://t.co/T6BeEREZdj" rel="noopener noreferrer nofollow">https://t.co/T6BeEREZdj</a>— Jeremy Allaire (@jerallaire) <a href="https://twitter.com/jerallaire/status/1681673576510812160?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 19, 2023</a> 
</blockquote> 
<h2 id="utility-driving-bullish-momentum">Utility driving bullish momentum</h2> 
Stellar remains one of the first protocols launched to cater specifically to payments. Despite this, the protocol's utility has been growing immensely and diversifying its core offerings across the board. 
<a href="https://u.today/stellar-network-launches-first-us-mutual-fund-on-public-blockchain-details" rel="noopener noreferrer nofollow">card</a> 
The positive momentum in utility has contributed a very good upside for Stellar, whose price has also sustained 111% growth in the past month, per data from CoinMarketCap. Stellar's growth has been notably formidable in the <a href="https://u.today/stellar-xlm-outshines-xrp-here-is-likely-reason" rel="noopener noreferrer nofollow">face of core competitors</a>, especially XRP.

Stellar (XLM) up 23%, Here Are 2 Major Reasons Why

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