- Stellar (XLM) led the altcoin recovery overnight, gaining nearly 28% in the past 24 hours.
- XRP wasn’t far behind, seeing a 15% increase in the last 24 hours.
- The overall crypto market is up over 3% since the beginning of the year, signaling a promising start to 2025.
- Stellar’s gains are driven by an exciting collaboration with African SIM issuer Fonbnk, aiming to transform prepaid SIM cards into payment vehicles using the Stellar blockchain.
Stellar (XLM) has kicked off its New Year celebrations in style, partying its way to impressive gains over the past 24 hours of trading.
Meanwhile, prominent Web3 project XRP has enjoyed a similar start to 2025, with the altcoin market in general fighting back against a muted end to the year.
The overall crypto market is up over 3% since the beginning of the new year (in Australian time), instilling hopes of a memorable 2025 to come.
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Stellar Surge Amid Groundbreaking Collaboration with Fonbnk
Stellar has been by far the best performer of the last day, surging nearly 28% and hitting its highest price point in over a fortnight. The coin experienced a notably sharp spike in volume, beginning overnight – and the momentum has carried through.
The…stellar…gains come on the back of an exciting collaboration between the crypto project and African SIM issuer Fonbnk.
The partnership intends to transfer prepaid SIM cards into debit cards that can be used to facilitate transactions at everyday outlets. This is accomplished via USDC hosted on the Stellar blockchain.
Despite only 20% of the African continent having access to a bank, a disproportionate number of people have access to prepaid SIM cards – making the pairing a potential breakthrough for dealing with financial inaccessibility in the region.
The Ripple Effect: XRP and Stellar’s Market Dynamics Are Never Too Far Apart
Meanwhile, one thing we’ve learned over the past few years is that – XRP goes up, Stellar goes up.
Now, we can say the inverse is also true.
XRP grew nearly 15% over the past 24h, riding the improved sentiment for Stellar among sky-rocketing trading volume (particularly in South Korea).
XRP was one of the leading narratives to close out 2024, recording annual growth of 280% after several years of sideways price movement.
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With the release of XRP Ledger’s native stablecoin, RLUSD, investors are continuing to demonstrate their excitement for the project’s future.
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