XLM (Stellar) rose 25.34% in 24 hours.

Gate News Bot news, on July 14, according to CoinMarketCap data, as of the time of writing, XLM (Stellar) is currently priced at $0.50, having pumped 25.34% in the last 24 hours, reaching a high of $0.50 and a low of $0.25. The current market capitalization is approximately $15.448 billion, an increase of $3.123 billion compared to yesterday.

Stellar is an open-source blockchain network designed for various payment and remittance applications. The network is operated by the non-profit organization Stellar Development Foundation, aiming to unleash human and economic potential through a fast, low-cost, and energy-efficient blockchain system. Stellar provides developers with tools to create digital asset products and services that can truly impact the real world, enhancing access to the global financial system.

Important news about XLM recently:

1️⃣ PayPal stablecoin PYUSD integration drives price rise PayPal plans to connect its stablecoin PYUSD to the Stellar network, a move that will enhance Stellar’s cross-border payment capabilities. The integration of PYUSD with Stellar is expected to increase network usage, attract more users to the ecosystem, and thus drive the price of XLM up.

2️⃣ Total Locked Value ( TVL ) reaches an all-time high Stellar’s TVL has reached a historic high of $97.7 million, indicating a rising level of activity and user interest within the ecosystem. The significant rise in TVL reflects more assets being deposited or utilized in XLM-based protocols, providing strong support for the price.

3️⃣ Technical breakout of key resistance level The XLM price has broken through the downward trend line formed by connecting multiple highs since the end of November and closed above the 50-day exponential moving average. This technical breakout has released a strong bullish signal, laying the foundation for subsequent rise.

From the derivatives market perspective, the long-short ratio of XLM has reached 1.11, marking the highest level in over a month, reflecting an increase in bullish sentiment in the market. At the same time, the financing rate has turned positive from negative, further confirming traders’ expectations for the rise in XLM prices.

This message is not an investment advice; investment should take market volatility risks into account.