CNBC Fast Money Speaks On Bitcoin Run-Up And Stellar’s Astonishing Week
Brian Kelly Speaks On The Stellar (XLM) Project
As reported by Ethereum World News previously, the past week saw XLM take off, easily outperforming a majority of altcoin projects, rising from 20 cents to 30 cents within a week. This enormous price move was attributed to an influx of positive news regarding the project, namely IBM’s use of a Stellar-based stablecoin and the potential addition of XLM to Coinbase.
As a result of this bullish price action, Stellar’s collective market cap surpassed Litecoin’s, with the former becoming the 6th largest cryptocurrency in the entire industry. Kelly also expressed his thoughts about Stellar’s run-up in the aforementioned message, writing:
Stellar is both a currency and a platform, so it makes sense that it is more valuable than Litecoin. The partnership with IBM is very interesting and could add even more value as they build more products on the Stellar platform.
Another host on the Fast Money panel doubled-down on Kelly’s apparent bullish sentiment regarding XLM, stating that there could be a “capital flight” from XRP to Stellar in the near future, citing the reason of Stellar’s use case as a viable transactional tool.