XLM profits from the recent Ukraine government collaboration and has become the latest plus to the altcoin season of 2021. Attention has been shifted from XRP which also gave rise to its progress.
Stellar is winning the battle of the blockchain payment networks against Ripple this week as sentiment flips in its favor.
Data from monitoring resource The Tie confirms that long-term sentiment toward Stellar’s Lumen (XLM) is now higher than toward XRP, the altcoin in which the embattled Ripple is the largest stakeholder.
XLM sentiment beats out XRP
The figures serve as the latest warning to XRP investors, who have looked on in dismay as legal problems for Ripple in the United States have caused its value to dive by over 60%.
As of Jan. 5, the long-term sentiment score collated by The Tie stood at 70 for XLM but under 70 for XRP. Before the legal action, XRP sentiment was at an all-time high.
Ukraine deal sees Stellar Token join 2021 alt season
Stellar received a boost this week in the form of a high-profile partnership with the government of Ukraine, under which it will help lawmakers digitize the national fiat currency, the hryvnia.
XLM/USD subsequently began rising, adding 30% to hit $0.176 on Tuesday — approaching its highest since November 2018. Transaction numbers last week hit new record highs.
While it remains unclear as to what extent the stellar token will feature in the Ukraine solutions, Stellar executives have confirmed that the payment system will form a major part of the deal.
“We look forward to working with the Ministry and other stakeholders to digitize the hryvnia, to bring Stellar-based tools and services to the people and businesses of Ukraine, and to introduce new partnership opportunities in Ukraine to businesses in the Stellar ecosystem,” Denelle Dixon, CEO and executive director of the Stellar Development Foundation, commented in an accompanying press release.
This article is sourced from:https://cointelegraph.com