This week has been great for Stellar. Not only have we seen its token XLM get added on Coinbase Pro, which saw the coin gain by more 6%, but now, the Stellar foundation has announced the appointment of a top executive from Mozilla.
The former Chief Operating Officer, Denelle Dixon, after years of working for Mozilla, has finally decided to join the crypto industry and she has chosen to work for Stellar. According to reports, she has been appointed under the role of Executive Director and CEO.
In A Comment, the newly appointed CEO stated that her goal was to listen, learn and support. She has stated that the reason she has decided to join Stellar is that the blockchain is uniquely positioned to connect to existing payment infrastructure. This is currently true as the project is currently in partnership with key companies such as IBM and other financial institutions. She also added that this was her first role in the crypto space and that it was awesome and exciting.
Her appointment into the foundation sees Jed McCaleb become the chief architect, focusing more on growth and adoption. Despite the significant change in management, XLM prices have not reacted to this.
XLM Price Watch
After an explosive day for XLM yesterday, the coin seems to have slowed down. In fact, it is at the time of press recording a drop of a little under 3%. A correction of prices was in order as is the case with every short rally or plunge. However, following the news of the appointment of a new CEO, and the original announcement earlier of the coin being added on Coinbase Pro, the positive news could help XLM gunner even more support with the bulls in the days to come.
At the time of press, Stellar remains behind Binance coin which only recently overtook it in ranking. The margin between the two coins remains around $100 million at press time which gives XLM a real chance of retaking its position during the next rally.
The bulls will look to capitalize on the positive developments going around the project and push prices up in the short term. Though the coin is recording a significant drop at the time of press, this could turnaround in the coming hours or days.