Can the Cryptocurrency Stellar Ever Reach $1?

Robinhood Markets (NASDAQ: HOOD) just announced that it would add Stellar (CRYPTO: XLM) to its menu of crypto assets within its popular trading app. This unexpected news comes at a time when the price of Stellar has been in a free fall for much of 2022. Is now finally the time for Stellar, which trades at about $0.12, to make a run at the $1 mark?

Even with the good news from Robinhood, a lot has to go right for Stellar to reach $1. In its entire history (which extends back to 2014), its all-time high was just $0.94. That's right: Even during the frothiest crypto markets of the past few years, Stellar never broke the psychologically important $1 barrier. So let's look at some of the factors that could help propel Stellar to the $1 mark.

Stellar is a top 30 cryptocurrency by market capitalization, and is widely available for trading on the top cryptocurrency exchanges. But getting listed on Robinhood could be a great way to get in front of even more investors, especially millennial and Gen Z crypto enthusiasts who dream about super-cheap cryptos that rocket to the moon.

Source Fool.com