Cryptocurrency News & Live Updates
Synopsis
Stellar Lumens (XLM) surged over 72% this week, reaching $0.4045, driven by increased futures open interest and a rise in stablecoin supply within its ecosystem.
Stellar Lumens (XLM) has experienced a remarkable price surge, climbing to $0.4045, marking its highest level since February. This increase follows a significant rise in futures open interest, which reached $345 million, indicating heightened liquidity and demand. Additionally, the stablecoin supply on the Stellar network hit a record high of $627 million, although this figure includes a substantial asset from the Franklin Onchain US Government Money Fund. Meanwhile, the number of active addresses and transactions on the Stellar network also saw notable increases. In contrast, the broader crypto market is witnessing smaller altcoins like Kyber Network Crystal (KNC) making headlines with a staggering 95.3% surge, following the launch of its crosschain platform. Other altcoins, such as Kori and ALT, are also experiencing significant gains, driven by social media hype and speculative trading. As XRP stabilizes around $2.70, traders are advised to approach these volatile altcoins with caution, as the market dynamics shift and new developments unfold.
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Stellar’s XLM Price Soars Significantly
Stellar Lumens (XLM) surged over 72% this week, reaching $0.4045, driven by increased futures open interest and a rise in stablecoin supply within its ecosystem.
Kyber Network Crystal soars 90%, XRP stabilizes
XRP stabilizes around $2.70 while Kyber Network Crystal (KNC) surges 95.3% following the launch of its crosschain platform, highlighting a trend of smaller altcoins gaining traction in a sideways market.