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Stellar (XLM) Decouples From Bitcoin as Price Jumps 10%
The price of Stellar (XLM) has seen a significant surge, increasing by 10%, as it decouples from the broader cryptocurrency market. The sudden upswing in value is largely attributed to the smart contract innovation brought about by Soroban, which has provided a major boost to XLM.
Despite this development, investor sentiment remains volatile, with Stellar failing to keep pace with its competitor Ripple (XRP) on shorter time frames. However, it’s important to note that the asset still lacks strong momentum in terms of price growth.
In related news, it’s been reported that several institutional investors have filed for a Ripple ETF. Although this development is likely to shift investor sentiment towards XRP, it remains unclear if any asset managers will be interested in pursuing an XLM ETF.
Despite these uncertainties, the potential approval and listing of a Stellar ETF could significantly impact the long-term price dynamics of XLM.
Source: https://u.today/stellar-xlm-decouples-from-bitcoin-as-price-jumps-10
