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XLM Spikes 10% as Stellar CEO Is Set to Testify at Full Committee Hearing

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Fri, 12/03/2021 - 14:24
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Tomiwabold Olajide
The CEO of Stellar Foundation, Denelle Dixon, will testify as a witness at a hybrid hearing on Dec. 8
XLM Spikes 10% as Stellar CEO Is Set to Testify at Full Committee Hearing
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Denelle Dixon, CEO of Stellar Development Foundation, is set to testify at a full committee hearing. The price of XLM, Stellar's native crypto asset, is up 10% in the last 24 hours.

XLM/USD Daily Chart

XLM/USD Daily Chart, Courtesy: TradingView

The Stellar CEO, in her words, “feels honored to testify at next week's full committee hearing on digital assets and the future of finance.” Representative Maxine Waters, Chairwoman of the House Committee on Financial Services, made the announcement. On Dec. 8, the full committee will have a hybrid hearing.

In a recent release, Representative Maxine Waters, chairwoman of the U.S. House Committee on Financial Services, has invited cryptocurrency CEOs to testify at a scheduled hearing on “Digital Assets and the Future of Finance.” Jeremy Allaire, CEO of Circle Pay, Sam Bankman-Fried, CEO of US FTX Exchange, Brian Brooks, CEO of Bitfury Group, Chad Cascarilla, CEO of Paxos Global, and Denelle Dixon, CEO of Stellar Foundation, will testify as witnesses in the Dec. 8 hybrid hearing.

Stellar (XLM) traded in an indecisive trend for most of November. However, bulls suddenly reemerged, leading to a retest of the $0.36 high on Dec. 3. Litemint, a longtime ecosystem participant, launched its non-fungible token (NFT) marketplace, enabling users to mint NFTs on Stellar.

XLM was trading at $0.358 as of press time.

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About the author

Tomiwabold is a cryptocurrency analyst, technical analyst and experienced fund manager. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.