Stellar (XLM) Teases Cryptocurrency Community with Mysterious Announcement
- Stellar (XLM) hints at an upcoming announcement, generating excitement in the cryptocurrency community.
- XLM’s recent positive price momentum and potential for further gains have been noted.
Following our recent report on Ripple’s rival, Stellar (XLM), the cryptocurrency world is buzzing with excitement due to a cryptic tweet from Stellar’s official account (@StellarOrg). This tweet has piqued the curiosity of the community, as it hints at an upcoming and intriguing revelation. Coin Telegraph’s latest news coverage has further stoked the anticipation surrounding this announcement.
In the tweet, Stellar teased its followers with the promise of a forthcoming and “cool” announcement, without divulging any specifics. This air of mystery has captured the imagination of cryptocurrency enthusiasts, leading to increased interest in Stellar and its native token, XLM. As a result, XLM’s price has surged beyond the $0.12 benchmark, setting it apart from many other major cryptocurrencies.
Market analytics firm Santiment has added to the excitement by suggesting the possibility of a “larger breakout” for XLM. Notably, XLM has experienced frequent shorting, and this could lead to liquidations that drive its value even higher. This spotlight on Stellar and its impending announcement has further fueled the bullish sentiment surrounding XLM.
Over the past 24 hours, Stellar’s XLM has displayed a positive trend. The token’s price surged from $0.116 to $0.126, encountering some resistance along the way. If this resistance level is breached, XLM may target the $0.135 mark. However, strong resistance could push it down to $0.120 before potentially rallying again.
In the broader cryptocurrency landscape, where Bitcoin (BTC) hovers around $26,000 and Ethereum (ETH) trades near $1,635, Stellar’s XLM stands out with an impressive 10% price surge in a single day. Currently ranked as the 22nd largest cryptocurrency globally, XLM boasts a market capitalization of $3.4 billion.
Stellar has been committed to streamlining cross-border payments and has formed strategic partnerships, including notable ties with Circle, a renowned stablecoin issuer, and MoneyGram International. Recently, the Stellar Foundation became a minority stakeholder in MoneyGram and joined the Bytecode Alliance, underlining its dedication to innovation and blockchain scalability.
Speculation Continues
Amidst the ongoing excitement, rumors persist regarding Elon Musk’s potential involvement with XLM, especially following the acquisition of a currency transmitter license by the social platform X (formerly Twitter). It’s important to note that while X may integrate multiple cryptocurrencies, XLM’s current market capitalization of $3.4 billion places it just outside the top 20 contenders.
As Stellar’s September 12 announcement approaches, XLM investors and the broader cryptocurrency community eagerly await further details, speculating on the potential impact this announcement could have on the cryptocurrency market.
