Stellar (XLM), which has recently become prominent in the cryptocurrency market, has attracted attention by showing an increase of over 80% in value in a 24-hour period. With this impressive rise, XLM has risen from $0.302 to $0.55, taking the top spot among the assets that gained the most. Experts predict that XLM, which has been in the market for a long time and is known as the "dinosaur altcoin", could approach the $1 level.$XLM
This rapid increase in the price of Stellar reflected the intense interest of investors, causing it to break out of important resistance levels. After a consolidation period around $0.40, XLM made significant gains in the current uptrend. This increase affected not only individual investors but also institutional investors. Grayscale Investments LLC announced that it recorded a growth of nearly 10% in the Stellar Lumens Trust.
According to Grayscale’s report, the Trust added approximately 35 million XLM tokens despite price fluctuations and management costs, which is considered a tangible indicator of Stellar’s growing popularity.
Analysts say that Stellar’s price structure has the potential to rise further. An analyst with the nickname “Charting Guy” stated that a price target of $3 to $5 is possible for XLM. Stellar’s strong technological infrastructure makes it an increasingly attractive asset in the cryptocurrency market.
Stellar is not only attracting attention with its price increases, but also with the increase in trading volume and open interest in derivatives markets. This trend is largely interpreted as a reflection of institutional investors’ interest in XLM.
XLM stands out with its strong infrastructure that allows its users to trade digital assets effectively. Appealing to an increasingly broad investor base, Stellar continues to grow by increasing its positive impact on the market.