Stellar (XLM) wins the battle of the blockchain payment networks against Ripple this week as sentiment turns in its favor.
Data from monitoring source The TIE confirms that long-term sentiment towards XLM is now higher than towards XRP, the altcoin in which the controversial Ripple is the largest stakeholder.
XLM sentiment beats XRP
The numbers serve as the final warning to XRP investors, who watched in dismay legal problems because Ripple in the United States causes its value to plunge by more than 60%.
As of January 5, the long-term sentiment score was collected by The tie was at 70 for XLM but below 70 for XRP. Before the legal action, XRP sentiment was unprecedented.
The deal in Ukraine ensures that XLM will join the 2021 altseason
Stellar got a boost this week in the form of a high-profile partnership with the government of Ukraine, including it will assist lawmakers in digitizing the national fiat currency, the hryvnia.
XLM / USD then started to rise, adding 30% to $ 0.176 on Tuesday – approaching its highest level since November 2018. Transaction numbers hit new all-time highs last week.
While it remains unclear to what extent XLM will feature the token in Ukraine’s solutions, Stellar executives have confirmed that the payment system will be an important part of the deal.
“We look forward to working with the Ministry and other stakeholders to digitize the hryvnia, bring Stellar-based tools and services to the people and businesses of Ukraine, and introduce new collaboration opportunities in Ukraine for businesses in Ukraine. Stellar ecosystem, ”said Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, commented in an accompanying commentary press release.
XLM’s earnings are driving a burgeoning resurgence of altcoin, which is quickly becoming a showpiece for 2021.
Such as Cointelegraph reported, several big cap altcoins have made weekly gains of over 40%, with some seeing the price level return after a three-year hiatus.
The moves are accompanied by a slowdown for Bitcoin (BTC), which came from its own all-time high of $ 34,800 to dive briefly to $ 27,700 Monday. A consolidation period is the key to keep altcoins thriving, CoinTelegraph Markets analyst Michaël van de Poppe has explained.