Altcoin Stellar (XLM) performed very well this week. The coin has steadily risen in price over the past few days and was able to break into the top ten cryptocurrencies.
Now XLM is in ninth place in the rating with a capitalization of $ 7.186 billion. The Stellar rate on Friday, January 8, rose to $ 0,294.
Analysts point to two reasons for the rise in the value of altcoin. First, it is Ukraine's partnership agreement with the XLM development team.
The country's ministry of digital previously published a statement in which it noted that the partnership with Stellar would help Kyiv accelerate the digitalization of the economy and create conditions for the launch of the electronic hryvnia.
Trending: Salvadorans are against buying bitcoins at the expense of the budget
The representatives of the Ukrainian authorities clarified that we are not talking about the direct interaction of the Ministry of Finance and the National Bank with Stellar in the development of a token. However, this partnership will help the national digital currency creation program.
The second factor in the growth of XLM's value is the lawsuit against Ripple, which provoked the fall of the XRP token.
Investors began to rapidly leave the cryptocurrency of the Ripple company and invest in XLM, as these are the closest instruments to each other.