XLM Surges Amid Market Sell-off, Outpacing Major Rivals
- On June 1, XLM surged past $0.27, marking a significant rise from just under $0.243.
- Despite a market-wide sell-off, XLM logged a daily gain of around 5% by early morning EST.
- The announcement of Stellar’s partnership with DTCC has nearly doubled XLM’s value, boosting its market cap to $8.5 billion.
- XLM’s price action led to the liquidation of approximately $4.6 million in short bets and $3.76 million in long bets.
- In contrast, XRP closed May with a net loss of about 6%, further widening its gap with BNB.
XLM’s recent rally has propelled it into the top ranks of digital assets by market capitalization, driven by strategic partnerships and real-world application expansions like those with DTCC and Cash App for USDC payments on Stellar. The surge underscores Stellar’s growing influence in the cross-border payments sector despite broader market challenges.
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