Price of Stellar (XLM), veteran altcoin and oldest mainstream XRPL fork, celebrates comeback to May 2021 levels
Stellar Lumens , a core native cryptocurrency, has spiked by 56% overnight. Its capitalization hit $13.1 billion, which is higher than that of Polkadot and Chainlink . Other oldschool altcoins also demonstrate decent gains while Ethereum keeps performing pale.Stellar Lumens , a veteran altcoin with a decade-long history, excited its community with an XLM price rally. The cryptocurrency added over 56% in just 24 hours.
Out of this activity, over $1 billion in equivalent should be attributed to the XLM/USDT pair on the WhiteBIT centralized crypto exchange.As covered by U.Today previously, Stellar Lumen's price registered a couple of bullish TA indicators. One week ago, the first golden cross since April 2022 triggered a 35% price upsurge.On this energy, XLM managed to break through its key resistance levels between $0.25 and $0.3. The XLM price has never been higher since early Q1, 2021, i.e.
As XLM becomes the undisputed best performer in the top 100 of cryptos by market cap, over $14.5 million in XLM positions were liquidated, mostly shorts, CoinglassMeanwhile, other long-running altcoins are also performing well. In the last 24 hours, VeChain surged by 33.5%, while Cardano's ADA and Polkadot's DOT soared by 25% each. The largest meme cryptocurrency Dogecoin added 20%.
Such impressive rallies made some analysts speak about an upcoming"altcoin season," i.e., a phase of a bullish run when liquidity exits Bitcoin to be spread between alternative cryptocurrencies.At the same time, Ethereum , the largest altcoin, is in the red today. The second cryptocurrency lost 0.2% in the last 24 hours.
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