There has been no official announcement in Stellar news that would have pushed the cryptocurrency into the green, but there are rumors circulating, perhaps enough to boost investor confidence.
— CryptoCurrency 🤑 (@crypto_goat_) August 9, 2018
Nearly a month ago, Coinbase announced that it was considering adding five altcoins to its platform. The coins that were mentioned were Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), ZCash (ZEC), and 0x (ZRX).
One user on Twitter said that there was an email sent around three days ago that made them extremely bullish on Stellar but never disclosed the details of the email.
$XLM Stellar Lumens. Doing some exciting things. Those that got “the email” this morning know what’s up 🚀
— Crypto Chappelle (@cryptochappelle) August 7, 2018
While these are both suspect, they’re still just rumors; it’s hard to say if they have any influence on the Stellar price today.
Facebook and Stellar
About an hour ago, however, Business Insider announced that Facebook is currently in talks with the Stellar Foundation. This could very well be the reason for the spike in price.
Today, David Marcus, Facebook’s blockchain lead, stated that he would be stepping down from the board of Coinbase. In recent months, he has met with various cryptocurrency projects—like Stellar—on how they could be integrated into the Facebook’s platform.
Facebook has been taking steps into the banking realm, and Stellar’s technology could help them with that.
“[Facebook would] be taking the rug out from under the banks,” an anonymous person from Stellar told Business Insider. “They can add a bank more quickly than a bank could build a social network.”
While these reports aren’t official, they may help to explain the spike in the digital currency today. We will see if Facebook or Stellar make any sort of official announcement on their talks or if this too will remain in the rumor mill.
At press time, Stellar (XLM) is trading at $0.229 a coin, up 7.77% in 24 hours.
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