Stellar (XLM) has been experiencing significant growth lately, thanks to the increasing interest from institutional investors looking to tokenize real-world assets (RWAs) and facilitate cross-border transactions. This surge in interest has propelled the Stellar network to new heights, attracting key players such as Franklin Templeton, Circle USDC, IBM, and MoneyGram to explore the possibilities of RWA tokenization on the platform.
The Stellar network has seen substantial growth over the past few years, especially since the introduction of smart contract capabilities through the Soroban upgrade in early 2024. With over $54 million in total value locked and more than $353 million in stablecoin market cap, Stellar has become a vibrant web3 ecosystem that is ripe for further expansion.
In terms of price action, XLM has closely followed the movements of XRP in the past. Both cryptocurrencies have shown signs of a potential rally towards price discovery in the near future. XLM’s price has been steadily climbing over the past six weeks, with a fully diluted valuation of around $15.1 billion and an average 24-hour trading volume of approximately $314 million.
The recent resurgence of altcoin trading FOMO, as seen in Ethereum’s rally against Bitcoin, has also contributed to XLM’s bullish momentum. Additionally, XLM’s Futures Open Interest (OI) has surged from $112 million to about $196 million, indicating growing interest from traders and investors.
Looking ahead, XLM’s price action seems to be on a positive trajectory, with the potential to reach 60 cents in the near term. The daily MACD line has crossed the zero line, signaling a potential breakout from an inverse head and shoulder (H&S) pattern. This bullish momentum, coupled with the network’s institutional adoption and tokenization efforts, bodes well for Stellar’s future growth and development.