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Stellar (XLM) has witnessed a significant price increase of 8%, establishing itself as one of the top performers among the top 100 cryptocurrencies. Over the past 24 hours, XLM has surged by 3.27%, reaching $0.1295 at the time of writing. It is currently trading near a two-week high of $0.1331. Notably, XLM has demonstrated the highest weekly growth among the top 100 cryptocurrencies, with a remarkable increase of 14.73%. This stands out as many other cryptocurrencies have either seen minimal gains or even losses during this period.
Bullish Sentiment and Market Analysis
The impressive rally of XLM has garnered significant attention, and market analysis firm Santiment suggests an even brighter future for XLM, hinting at the possibility of a “more substantial breakout.” This has piqued the interest of market analysts and investors alike.
Earlier this month, Stellar created a buzz by teasing a major announcement scheduled for September 12. The mysterious message posted on social media read, “Get ready for the changes we've all been excited about. Stay tuned.” This cryptic announcement has left many intrigued and fueled speculations about what's to come.
Santiment highlights that XLM is an asset that is frequently shorted by the crowd. Consequently, ongoing short liquidations could drive the asset's price higher, acting as a catalyst for further growth. This development adds another layer of growing market interest in Stellar in anticipation of the upcoming announcement.
Moreover, Stellar's recent move to become a minority investor in MoneyGram in August has heightened curiosity surrounding this announcement. With just three days remaining until the significant Stellar announcement on September 12, the crypto community eagerly awaits the opportunity to see what the payment network will unveil.
