Stellar (XLM) Bucks the Trend with 11% Surge as Anticipation Builds

As the crypto world grapples with market dips, Stellar’s XLM stands out with an impressive 11% growth.

Astronaut boy showing thumbs up in Stellar land.
Created by Kornelija Poderskytė from DailyCoin
  • Stellar’s XLM records an 11% surge in a single day.
  • Anticipation builds as Stellar hints at an upcoming announcement.
  • XLM’s trading volume witnessed a significant 163% increase.

While crypto markets are steady as Bitcoin dipped below $26,000, there are always surprises. Stellar’s native cryptocurrency, XLM, has captured attention with an 11% surge in just one day. In particular, a mysterious recent announcement is fuelling its growth. 

Stellar’s Upcoming Announcement: A Catalyst for Change?

On Friday, September 2, the Stellar community was excited as the company teased about unveiling “something cool” by September 12. While the specifics remain under wraps, the announcement got a lot of attention. 

This potential innovation or shift has piqued the community’s interest and positively impacted XLM’s price. On Monday, September 4, XLM had witnessed a 10% rise in 24 hours, trading at $0.125. Furthermore, XLM’s 24-hour trading volume skyrocketed by 163%, with a whopping $160 million in trades. 

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While the community is excited, some are suggesting caution. Crypto influencer @MasonVersluis cautioned against reading too much into Stellar’s announcement. 

Stellar has been active on the development side of its project. Most recently, the project finalized the global launch of its open-source platform for international payments. 

Read more about the project’s latest development: 

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Stellar Launches Open-Source Platform for Global Payments

Read more about the geopolitical struggle over crypto: 

Crypto Cold War: South Korea Moves to Freeze North’s Crypto

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.