XRP, Stellar Pumping as Crypto All-Stars ICO Sees Major Inflows
Crypto is back in the green and cross-border payment tokens are leading the way.
XRP and Stellar are both up after a slow start to the week.
Meanwhile, the new meme coin staking project Crypto All-Stars continues to make headlines in its ICO.
And rumor has it that crypto whales are scooping up STARS tokens before the official launch in December.
XRP Breaks Out Is This the Start of a New Uptrend?
XRP is rising again after a few days in the red.
The token has shot up to $1.46, a 14% gain since Tuesdays low, and has added another 4% in the past day alone.
No one is quite sure what kicked things off, but traders are feeling good about XRP now.
Plus, the 4-hour chart shows a classic bull flag pattern, which usually means the price will keep climbing.
Traders are definitely upbeat about the future evidenced by open interest ticking up to $1.6 billion.
And many people think the recent surge is related to Ripples ongoing legal battles.
With Gary Gensler set to leave the SEC, theres a chance things might finally start to go Ripples way.
After all the regulatory headaches Ripple has had in the past few years, investors are hoping for some closure.
And that optimism is boosting XRPs price.
Stellar Also Rallies as Expert Predicts XLM Will Hit New All-Time High
XLM, the token behind Stellar, is also on the move.
Its mirroring XRPs bullishness and is now trading around $0.476 after an 8% jump from yesterdays low.
All in all, XLM is up 14% in the past three days.
It seems like anything related to blockchain payments is hot right now.
However, even though XLMs price is going up, spot trading volumes have actually dropped by 43% in the last 24 hours.
Thats got many traders scratching their heads.
Despite that, some big names, like Crypto Tony, are still bullish on Stellar.
He thinks XLM will dip a bit lower before making a run towards $1.30, which would mark a new all-time high.
So, will XLM keep rising like Crypto Tony thinks, or is its rally just temporary?
Its hard to say for sure, given that XLM has a history of spiking and dropping just as fast.
It could set the foundation for a strong start to December if the token can hold on to its gains throughout today and tomorrow.
Crypto All-Stars ICO Passes $6.5M Mark as Rumored Whale Buys Prompt Uptick in Demand
XRP and XLM arent the only coins seeing an uptick in demand.
Crypto All-Stars is also generating hype and has raised over $6.5 million in its ICO so far.
Large crypto whales are even rumored to be getting involved in the projects ICO.
Crypto All-Stars ICO is seeing hundreds of thousands raised each day, implying that big investors are buying ahead of the exchange launch next month.
This makes it one of the years most highly anticipated meme coins.
The projects ICO ends in just 22 days, and investors are scrambling to get their hands on STARS tokens for just $0.0016319 each.
But why is everyone so excited?
Its all linked to Crypto All-Stars MemeVault protocol, which lets users stake their favorite meme coins to earn rewards.
Thats something that hasnt been seen before in the meme coin sector.
No one knows where the STARS token will be listed first, but the projects Telegram channel members believe itll likely be the Uniswap DEX.
However, many early backers believe a CEX listing could be on the cards shortly after if the launch goes well.
Crypto commentator ClayBro, who has over 131,000 subscribers on YouTube, is highly bullish on STARS.
He said its a token that could benefit massively from the expected meme coin supercycle.
All in all, things are looking promising for Crypto All-Stars.
And with XRP and XLM showing signs of life, STARS could also receive a boost when it hits the open market next month.
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