XLM Price Soars 92%: Will Bulls Push Stellar to $1? Top Altcoin Alert!
Stellar’s XLM Surges 92%: Is It the Best altcoin to Buy Now?
XLM’s Remarkable Growth Amid Market Rally
This week, XLM has seen an astonishing increase of 92%, showcasing its robust performance as the overall cryptocurrency market experiences an upward trend. Analysts are optimistic, with many predicting that XLM could reach $1 in the near future. This raises the question: is XLM the top altcoin to invest in right now, or could a newer, lower market cap option like Bitcoin Hyper present greater potential for gains?
Bitcoin Hyper’s Promising Presale Phase
Currently in its presale stage, Bitcoin Hyper has successfully raised over $2.6 million. The growing momentum indicates that this project is one to keep an eye on as the market continues to rise.
Key Developments in the Stellar Ecosystem
A series of significant updates have emerged at an opportune moment. Bitcoin has recently surpassed $122,000, marking its highest price to date. This surge has naturally boosted investor confidence across the altcoin sector. XLM, much like the trending Pudgy Penguins, has also experienced substantial ecosystem developments that are pivotal to its recent strength. What are these updates?
- Stellar’s upcoming Protocol 23 upgrade is set for a mainnet vote on August 14. If approved, this upgrade will transition Stellar from a basic payments network to a smart contract platform.
- PayPal has announced plans to integrate its stablecoin with Stellar, expanding its reach beyond Ethereum and Solana.
The combination of these major developments alongside Bitcoin’s breakout has significantly influenced XLM’s price. Currently trading at $0.48, XLM has risen 12% today and 92% over the week, bringing its market cap to $15 billion, making it the 12th largest cryptocurrency. Additionally, trading volume has surged by 44% today, reaching $3.29 billion, signaling strong investor interest.
XLM’s Potential to Exceed $1 This Summer
Both technical indicators and strong fundamentals suggest a bright future for XLM. Analyst ChartNerd has pointed out that XLM has broken through a bull flag on the monthly chart, indicating potential for new yearly highs. The analyst has set a target of $1.59 as the next significant price level.
In a follow-up comment, he noted that this breakout coincided with a bounce from the 20-day moving average, adding further strength to the bullish outlook. He remarked, “The 20 EMA is effectively pushing the price upward after providing support.”
Another analyst, Javon Marks, while slightly more cautious, anticipates a rise to $1.29, contingent upon breaking the $0.68 resistance level. He believes that XLM will not stop at $0.48 and expects at least a 41% increase.
With solid advancements and a favorable market outlook, XLM could realistically reach $0.68 this summer, with the potential to surpass $1.
Bitcoin Hyper: A New Contender for Explosive Returns
Bitcoin Hyper is addressing some of Bitcoin’s most significant challenges, including transaction speed, fees, and flexibility. It is the first layer 2 blockchain for Bitcoin, built on the Solana Virtual Machine. This allows all Solana applications, including PayPal’s stablecoin, to migrate to Bitcoin Hyper’s network, benefiting from Solana’s speed while maintaining Bitcoin’s security.
Investors still have the opportunity to purchase $HYPER at an early-stage price, making it a strong candidate for those looking for the best altcoin to buy now.
The project has already raised $2.6 million in its presale, and as awareness grows, daily inflows have been averaging over $100,000 recently. Analysts are closely monitoring this project, with some predicting it could achieve 100x returns.
The altcoin market is heating up, as Stellar has added over $7 billion to its market capitalization in just one week. However, with Bitcoin Hyper generating $2.6 million in inflows, even a small fraction of that liquidity could significantly elevate its price.
With the ICO still ongoing, investors have a lucrative opportunity to enter early. However, as price increases are planned throughout the presale, delaying could result in higher costs.
Visit Bitcoin Hyper Presale for More Information
Disclaimer: This article is sponsored content. FinanceFeeds does not independently verify the legitimacy or claims made in this content. Readers are encouraged to seek independent financial advice before making any investment decisions. Please review our full disclaimer for further details.
