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XLM Surges 24% and Emerges as Best-Performing Altcoin Among Top 20 Cryptocurrencies

20Jul

By Tolulope ZaccheausNo Comments

Cryptocurrency

XLM Surges 24% and Emerges as Best-Performing Altcoin Among Top 20 Cryptocurrencies

As of the time of writing, XLM, the native token of the Stellar Lumens blockchain, has experienced a remarkable increase, becoming the best-performing altcoin among the top 20 cryptocurrencies by market capitalization. According to data from CoinGecko, XLM has surged by over 24% in the last 24 hours, currently trading at $0.17. The token's short-term outlook suggests a possible swift move towards testing the $0.2 price level. XLM surges by 24% following the bullish trend, ahead of other altcoin This surge in XLM's value follows a bullish trend in the cryptocurrency market, particularly after the long-standing lawsuit involving XRP reached a favourable resolution for XRP and its holders. As XRP led the bullish rally, Stellar Lumens (XLM) also benefitted from the positive sentiment, reachi...

President Biden Vows to Close Crypto Loopholes, Sending Ripples Through the Market

In a bold move aimed at strengthening the integrity of the tax system and levelling the playing field, President Biden has pledged to eliminate tax loopholes for crypto traders and hedge fund managers. With an estimated $18 billion in lost tax revenue attributed to these loopholes, the President aims to restore fairness and accountability within the crypto industry. The announcement sent shockwaves through the market, prompting a brief dip in Bitcoin's value before it rebounded, showcasing the industry's resilience. Read Also: Israel's Ministry of Defense Seizes Millions in Cryptocurrency Intended for Terrorist Financing, with Support from Binance https://twitter.com/WatcherGuru/status/1674462671989530630 President Biden To Address Tax Evasion Practices President Biden made his int...

Crypto derivatives: what are they and how do they work?

Crypto derivatives are financial instruments that allow traders to speculate on the price movements of cryptocurrencies without owning the underlying assets. They are becoming increasingly popular in the cryptocurrency market as they offer investors a way to hedge against price volatility and potentially generate high returns. In this article, we will explore what crypto derivatives are, how they work, and the different types of crypto derivatives that are available in the market. What are Crypto Derivatives? A derivative is a financial instrument whose value is derived from an underlying asset or a group of assets. In the case of crypto derivatives, the underlying asset is a cryptocurrency such as Bitcoin, Ethereum, or Litecoin. Crypto derivatives allow traders to take a position ...