- Stellar (XLM) has surged over 10%, decoupling from Bitcoin and outperforming major altcoins like Ethereum, Solana, and Cardano.
- Stellar’s breakout is fueled by growing adoption of its Soroban smart contracts and increased trading volume, signaling strong bullish momentum.
Stellar (XLM) has taken the spotlight in the ongoing crypto market recovery, surging over 10% and outperforming major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA). While Bitcoin has dipped by 1.32%, XLM has demonstrated strong independent momentum, suggesting a bullish takeover.
XLM’s Price Action Defies Market Trends
At the time of writing, Stellar (XLM) is trading at $0.2904, marking an 11.74% increase in the past 24 hours. Unlike other major altcoins that are struggling—Ethereum, Solana, and Cardano have posted losses of 0.61%, 1.6%, and 3.56%, respectively—XLM has emerged as the best-performing asset among the top 20 cryptocurrencies by market capitalization.
This surge is backed by a notable 32.56% increase in trading volume, now sitting at $376.89 million, according to CoinMarketCap data. Stellar’s breakout from its recent consolidation phase indicates growing investor interest. The token opened trading on March 13 at $0.261, consolidating before making a strong push above $0.270 and reaching a high of $0.2928.
Catalysts Behind XLM’s Rally
One of the key drivers behind Stellar’s price surge is the growing adoption of its Soroban smart contract platform. This upgrade has bolstered investor confidence, adding to the network’s utility and attractiveness. Additionally, XLM’s recent decoupling from Bitcoin suggests independent market strength, a trend that often signals the start of a sustained rally.
Despite this momentum, institutional sentiment remains a key factor for long-term growth. While Stellar has outperformed XRP in shorter time frames, it still lags behind in institutional adoption. With asset managers like Franklin Templeton seeking approval for an XRP ETF, attention may shift toward other assets. The possibility of a Stellar ETF could fuel further price appreciation in the long term.
What’s Next for Stellar?
XLM’s ability to maintain its recent gains will depend on market sentiment, continued adoption of Soroban smart contracts, and potential institutional interest. If its current momentum continues, Stellar may solidify its position as a top-performing asset in the ongoing market recovery.
For now, all eyes remain on whether XLM can sustain its breakout and establish a new uptrend in the coming weeks.
