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Stellar surges by 10% after trading kicks off on Coinbase, New York

US-based cryptocurrency exchange Coinbase recently decided to list Stellar Lumens(XLM) on the exchange and begin its trading for those users as well who live in New York.

The exchange announced this listing in a Tweet on 25th September. The people of New York can now trade, store, send and receive XLM with the help of the website as well as the mobile application of the exchange.

New York has been suffering from the stringent cryptocurrency regulation since the BitLicense was introduced in August 2015. This licensing issue led to many crypto companies leaving the state, and they stopped offering services to New York residents.

Coinbase has recently decided to add Telegram’s Gram and 16 additional digital assets into their exchange. However, the trading for all the assets will not start at the same time, which suggests that New York will be the last one to get the benefit of this service.

Ever since Stellar Lumens was listed on Coinbase, it has seen a 10% increase in its trade in the past 24 hours. XLM’s trading price changed from $0.0556 to $0.601 in 24 hours. Though a slow downward correction has also started in the charts as the price is declining again.

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