Key Points
- XLM soars 600% in 3 weeks, crossing $17.3 billion market cap.
- Outpaces Shiba Inu: SHIB lags with $15.7 billion valuation.
- Eyes top 10 spot: Stellar set for a breakthrough in rankings.Strong market
- buzz: Investors rediscover Stellar XLM’s potential.
Stellar XLM is on a winning streak, taking the crypto market by storm. Over the past three weeks, XLM has surged by an astonishing 600%, pushing its market cap to $17.3 billion. This explosive growth places it ahead of Shiba Inu (SHIB), which currently stands at a $15.7 billion valuation after a modest 9% price increase.
The recent rally, a staggering 190% gain in just one week, has brought Stellar XLM closer to claiming a coveted spot in the top 10 cryptocurrencies by market capitalization. The token’s resurgence has sparked renewed interest in its blockchain, which powers fast, affordable cross-border transactions.
Stellar (XLM) Tops Shiba Inu (SHIB) by Market Cap💪🏽💪🏽🔥 pic.twitter.com/xjp7WN2KdJ
— CryptoTrilly (@MSaravia007) November 24, 2024
Why Stellar XLM Is Stealing the Spotlight
Stellar XLM’s recent success can be linked to broader market dynamics and its unique position within the blockchain ecosystem. Designed for real-world use cases, the Stellar network facilitates seamless financial transactions, appealing to institutions and individual users alike.
Moreover, its connection to XRP, the Ripple-affiliated token, adds to its intrigue. Both tokens share a historical link through their co-creator, Jed McCaleb.
Interestingly, XLM and XRP have often mirrored each other’s price movements, with XRP also experiencing a sharp rally recently, reaching a multi-year high of $1.6.
Ripple’s CTO, David Schwartz, has acknowledged the uncanny correlation between the two tokens, attributing it to external market factors rather than internal developments.
While some investors view the similarities as coincidental, their shared history continues to fuel speculation and excitement.
Stellar XLM Poised for Top 10 Entry
Breaking into the top 10 cryptocurrencies would be a game-changer for Stellar XLM. Currently, the crypto landscape is highly competitive, with established players vying for dominance.
Yet, Stellar’s unique capabilities—speed, cost-efficiency, and a focus on bridging financial gaps—give it a strong case for sustainable growth.
However, the question remains: can XLM maintain its momentum beyond this recent rally? Market trends show that sharp price spikes often face corrections, but Stellar’s fundamentals could provide the stability needed to retain its gains.
As XLM continues to rise, the market buzz around Stellar highlights its potential to become a major player, reinvigorating interest in this often-overlooked altcoin. Investors and enthusiasts alike are closely watching as Stellar XLM gears up for a historic milestone.
