Stellar (XLM) Sees 450% Surge Amid Ripple’s Growth, Faces Market Slowdown
Stellar, the XRP competitor, has regained prominence following Ripple’s exponential surge.
Founded by a Ripple co-founder, the altcoin has risen over 450% and is already displaying signs of weariness.
XLM, once eclipsed by XRP, distinguishes itself with a more decentralized ethos. Its 50% token burn in 2019 dramatically cut supply which gave it a stronger deflationary advantage. However, its trade volume is 50% lower than XRP’s, and its network has not had the same explosive adoption.
Stellar (XLM) Partners with Félix and Bitso to Transform Cross-Border Remittances Amid Price Volatility
Stellar partners with Félix and Bitso to revolutionise cross-border remittances.
According to a recent report, Félix, Bitso, and the Stellar network collaborated to improve cross-border remittances for Latino immigrants living in the United States. By combining blockchain technology and USDC stablecoin, the alliance provides cheaper, faster, and safer ways to move money to Latin America.
With the numerous improvements in the Stellar network, XLM’s price has experienced bullish patterns, reaching $0.6395 before reverting to $0.5591. As of now the XLM price is traded at $0.4684 down 5.75%. The token attempted to break above $0.6005 but struggled. The technical signs point to probable cooling.
The XLM open interest surged to a high of $371 million on November 28, with liquidations totalling more than $2.75 million. According to Coinglass data, short liquidations surged to $1.8 million, while long liquidations were $961,000.
Stellar (XLM) Gains Momentum Amid SEC Changes and Anticipated XLM ETF Approval in 2025
The Stellar coin has increased in value as a result of Donald Trump’s recent victory and upcoming changes at the Securities and Exchange Commission (SEC). As Stellar was founded by Ripple co-founder Jed McCaleb, and analysts anticipate that Ripple’s legal troubles will be resolved shortly, which will pave the way for a future XRP ETF.
Similarly, Canary Capital has already filed for a spot XLM ETF, which may be authorised in 2025, resulting in increased institutional participation. Analysts expect XLM to grow to $0.6225 this month as new innovations are deployed on Stellar’s network.
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