XLM Price Surges Amidst Big News Coming for Stellar on September 12
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The dawn of a new week has shone brightly upon Stellar’s XLM. The digital currency is gaining significant attention from investors, traders, and market analysts. Market analytics powerhouse, Santiment, recently highlighted Stellar’s noteworthy performance, hinting at a potentially larger breakout in the near horizon.
Surge Amidst the General Uptrend
Stellar’s XLM has marked an impressive 11% increase, confidently trading beyond the $0.12 mark. This comes as Rocket Pool and Synthetix also report double-digit growth. While many altcoins such as Ethereum, Binance Coin, Ripple, and Cardano have recorded modest increases, Stellar clearly stands out from the pack, with SOL marking a 2% jump.
As the new week has kicked off, #Stellar is the notable asset that is showing mini breakout potential, with a +8% rise today. $XLM is an asset that has been consistently #shorted by the crowd, and liquidations could pump up the price. Also, keep an eye on $TON, $XMR, and $ARB. pic.twitter.com/ju15ghk1ek
— Santiment (@santimentfeed) September 4, 2023
Stellar’s Mysterious Announcement
Adding fuel to the fire, Stellar took to social media earlier this month, hinting at an intriguing development set to be unveiled on September 12. Without revealing much, the tease suggested a development that could potentially generate considerable buzz in the crypto community. “Gear up for a change that has us all thrilled. Stay on your toes,” was the cryptic message they relayed.
XLM Price Analysis
The uptick in Stellar’s performance also saw its 24-hour trading volume skyrocket by a whopping 163%. The market was abuzz with approximately $160 million worth of XLM changing hands, as traders and investors eagerly jumped into the action, hoping for gains.
Stellar began its recovery trajectory around September 3, maintaining its upward momentum, touching daily peaks of $0.126. Market watchers are keenly observing the range between $0.128 and $0.133, believing it to be pivotal for further bullish trends for XLM. Concurrently, XLM appears to be finding solid ground, establishing support close to the $0.11 mark.
Currently, Stellar ranks among the top daily gainers when considering the top 30 cryptocurrencies by market cap. Its recent ascent underscores the potential it holds in the dynamic and ever-volatile crypto market.
Filed under: Bitcoin - @ September 4, 2023 1:07 pm