#BTCBreaks100K? The Stellar cryptocurrency ($XLM
) increased by 54.8% per day, reaching $0.434. This is the first time since May 2021 that the value of a coin has returned to such a level. The sharp growth has aroused the interest of investors and experts who analyze the reasons for such a rapid movement. Note that the digital coin is trading at 0.448, and its market capitalization has reached 13.43 billion. This allowed her to bypass such cryptocurrencies as Polkadot ($DOT
) and Chainlink ($LINK
) in the list of the best
Stellar is a blockchain platform created for fast and cheap cross-border payments. Its main goal is to simplify the exchange of currencies and make financial services available even to those who do not have bank accounts. Stellar technology is used both for transferring fiat currencies and for working with tokenized assets.
Several factors influenced the growth of the exchange rate. Firstly, interest in solutions related to the actual use of blockchain technologies is growing rapidly. Stellar offers such tools, which makes it attractive for both private users and large financial organizations.
Secondly, Stellar's recent strategic partnerships contribute to its popularity. Among the key ones are IBM and other well—known companies using blockchain to optimize their payment systems. This strengthens trust in the platform and stimulates demand for native XLM cryptocurrency.
Strong growth may also be associated with an improvement in the overall state of the cryptocurrency market. Investors are showing more interest in altcoins, which offer unique technologies and have real-world application cases. However, despite the positive dynamics, experts warn of possible risks. Growth may be accompanied by increased volatility, especially if the interest of large institutional investors begins to decline. However, Stellar's long-term prospects remain positive, given the developers' commitment to development in the field of decentralized finance.