The speech by Denelle Dixon, the CEO of the Stellar Development Foundation, brought a rise in the opposite direction, not a sharp decline as previously predicted. The CEO of the Stellar team will testify before the upcoming US House of Representatives and answer questions put to him. The CEO, on the other hand, actually summarized the situation in his own way in the statement he made before this.
The CEO stressed that he is honored to be invited to the next week’s meeting on digital assets and the future of the financial industry. The committee will hold a mixed meeting on December 8, and some of it will be live while some will be online.
CEOs Gathering
Representative Maxine Waters said in a statement on the subject that they invited important CEOs from the crypto money industry. The people in question were announced as Circle CEO Jeremy Allaire, FTX CEO SBF, Bitfruy Group CEO Brian Brooks, Paxos Global CEO Char Cascarilla and Stellar Foundation CEO.
The CEO’s statements regarding the meeting to be held on December 8th brought the price of XLM up 10% today. XLM price soon rallied as high as $0.36 and tested the resistance there.
XLM is currently trading at $0.33 and it was slightly lower. XLM, which was once in the top 20 and even in the top 10, is currently in the 26th place. One of the reasons was that XLM was lagging behind the NFT sector.
*Not Investment Advice.