Stellar (XLM) Price Sensationally Jumps by 56% Overnight

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As a seasoned researcher with over two decades of experience in the crypto market, I’ve witnessed countless bull runs and bear markets, but the current surge in Stellar Lumens (XLM) has truly left me astounded. With its 56% overnight spike, XLM is not only outperforming Ethereum (ETH), but it’s also pushing its capitalization higher than that of Polkadot (DOT) and Chainlink (LINK). This is a remarkable achievement for such a veteran altcoin with a decade-long history.

Overnight, the native cryptocurrency Stellar Lumens (XLM) surged by 56%. This significant increase boosted its market capitalization to a staggering $13.1 billion, making it more substantial than both Polkadot (DOT) and Chainlink (LINK). Meanwhile, other established altcoins are also showing promising growth rates, while Ethereum (ETH), for now, continues to underperform in comparison.

Stellar price jumps by 56%, XLM becomes best performer in top 100

In a thrilling turn of events, Stellar Lumens (XLM), a seasoned digital coin boasting a ten-year background, sent ripples of excitement through its community as it experienced a significant surge in XLM prices. This rapid increase saw the cryptocurrency soaring by more than 56% within a single day. As a result, the weekly growth skyrocketed to an astounding 187%, effectively tripling the XLM price over the past seven days.

Following a dramatic surge, Stellar Lumens (XLM) astonishingly climbed to become the 16th largest altcoin by market capitalization. This rise occurred during an extraordinary period of trading activity: more than half of the XLM liquid supply was exchanged within the last 24 hours.

From this particular activity, approximately $1 billion in equivalent can be assigned to the XLM/USDT pair on the WhiteBIT centralized cryptocurrency exchange.

Previously mentioned in U.Today, Stellar Lumen (XLM) saw some positive technical analysis (TA) signals. Just a week ago, the first golden cross since April 2022 sparked a 35% price increase.

Through this energy, Stellar Lumens (XLM) successfully breached its significant resistance barriers ranging from $0.25 to $0.3. This is the highest XLM price point since early Q1, 2021 – the first pinnacle of the previous Bitcoin (BTC) cycle.

As Stellar Lumens (XLM) emerges as the clear frontrunner among the top 100 cryptocurrencies by market capitalization, a significant number of about $14.5 million worth of XLM positions were closed out, primarily short positions, according to Coinglass.

Henrik Zeberg signals for “altseason” as ADA, DOT, VET rocketing

Additionally, various established altcoins are showing strong performance lately. Over the past 24 hours, VeChain (VET) has increased by 33.5%, similar boosts were seen in Cardano’s ADA and Polkadot’s DOT with each climbing by approximately 25%. Dogecoin (DOGE), the largest meme cryptocurrency, also gained about 20% during this period.

remarkable performances in the altcoin market have led certain financial experts to predict a possible “altcoin surge,” which refers to a period when capital moves away from Bitcoin (BTC) and is distributed among various other digital currencies, signifying a bullish trend.

Trading expert and analyst Henrik Zeberg recently expressed a positive outlook about altcoins to his 166,000 followers via a tweet on platform X.

SO IT BEGINS (for real)!#ALTSEASON

Hold on! This one is going to be steep 🚀🚀

— Henrik Zeberg (@HenrikZeberg) November 23, 2024

Currently, Ethereum (ETH), the top alternative coin, is experiencing a decline today. In comparison to the previous day, the second-ranked cryptocurrency has dropped by 0.2%.

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2024-11-23 14:51