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Stellar Price Skyrockets Over 80%, XLM Rally to $1 Imminent?
Stellar price has seen a remarkable surge, climbing over 80% in the last 24 hours, rising to number one in the top gainers. The bullish momentum has pushed XLM from $0.302 to a peak of $0.55, as traders and analysts anticipate the possibility of the asset nearing the $1 mark.
Stellar Price Reaches $0.55 Amid Bullish Momentum
Stellar’s price rise reflects strong buying interest as it touched $0.55, marking a significant upward trend. After a period of consolidation around $0.40, the cryptocurrency broke through resistance levels, delivering impressive returns for investors.
Market participants have noted this upward movement as a sign of renewed confidence in the asset’s potential. However, the price also briefly retraced from its peak as it faced resistance at the $0.55 level, suggesting that $1 remains a potential milestone rather than an immediate outcome. Jed McCaleb, Stellar’s founder, has also added to the growing optimism surrounding the network.
In a recent statement, McCaleb commented on Stellar’s current momentum and its role in global financial systems. “Stellar is the most underrated and least understood crypto project,” McCaleb remarked, emphasizing its ability to facilitate real-world transactions and its high efficiency. He noted,
“The best and most impactful use of crypto is as digital money, and this is what Stellar is built for.”
Grayscale Stellar Lumens Trust Records 10% Asset Growth
Grayscale Investments LLC’s recent 10-K filing highlighted a 10% increase in the net assets of its Stellar Lumens Trust during the fiscal year ending September 2024.
Despite the challenges posed by XLM price fluctuations and management fees, the trust managed to grow its assets due to the addition of 34,875,230 XLM tokens valued at $3,923.
Trading activity around Stellar has surged, with derivatives markets experiencing substantial growth in both volume and open interest. The trading volume for XLM derivatives rose by 284.26%, reaching $8.98 billion, while open interest increased by 125.88% to $393.05 million.
The filing also outlined that the trust faced losses stemming from token depreciation earlier in the year, but these were offset by a robust recovery and asset inflows. The document underscores the growing institutional interest in Stellar as an investment vehicle, aligning with its recent market performance.
Analyst Predicts Multi-Year Price Pattern May Propel XLM to $3-$5
Cryptocurrency analysts have highlighted a multi-year price structure for Stellar, suggesting that it may be poised for further growth. A prominent market speculator, known as “Charting Guy,” recently shared a prediction that Stellar could achieve price targets between $3 and $5.
According to the analyst, XLM price has been forming a bullish “Adam and Eve” pattern on the monthly chart since 2017. This chart pattern is often associated with long-term upward momentum.
Charting Guy emphasized patience, indicating that the current rally could lead to substantial gains for long-term holders. A potential breakout from this pattern could result in a 930% to 1,617% increase from current levels, further reinforcing optimism in Stellar’s market trajectory.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The recent dip in Bitcoin price has sparked concerns among investors while triggering massive selling pressure in the broader crypto market. In addition, the recent market developments also hint towards a further dip, with many predicting a potential slip to $80K or even below. Notably, this comes despite the strong institutional interest in the flagship crypto, as evidenced by the buying spree of MicroStrategy (MSTR) and others.
Why Is Bitcoin Price Falling Today?
Bitcoin price has recorded a sharp decline today, sparking concerns in the broader crypto market. A flurry of reasons could have weighed on the investors’ sentiment recently, which has also triggered massive selling pressure in the digital assets space.
For context, BTC has recorded massive rallies since Donald Trump’s election win in November. Having said that, it also provided a profit-booking opportunity to many investors, with recent on-chain data indicating heavy selling pressure on the crypto. Top crypto market expert Ali Martinez highlighted the trend, saying that 33,000 BTC, worth over $3.23 billion, has moved to exchanges recently.
This indicates the profit-booking strategy, which the traders often use when an asset’s price goes higher. On the other hand, Santiment recently highlighted the BTC drop after reaching $99.8K on Christmas, sparked by bullish trader sentiment. The report noted that speculation of the cryptocurrency hitting $110K has also increased due to the recent rally.
However, Santiment suggests that historically, Bitcoin only reaches such highs when crowd expectations are low. This indicates that the current downturn may be a market correction, as traders’ high expectations for $110K may be self-fulfilling prophecies that prevent the price from rising further.
Bitcoin Options Expiry Sparks Concern
The recent downturn in Bitcoin price comes ahead of the largest crypto options expiry on the Deribit exchange, with over $18 billion in options set to expire tomorrow. The expiry has sparked directional uncertainty, with elevated volatility and “sharp swings in DVOL”, Deribit noted. Besides, market experts also warned that the heavily leveraged market to the upside could trigger a rapid snowball effect with any significant downside move, leading to high volatility.
Notably, the Bitcoin options expiry accounts for the majority of the total notional value, with $14.27 billion set to expire. The put/call ratio stands at 0.69, indicating a slightly bullish sentiment among traders. The max pain point for Bitcoin is $85,000, which could act as a resistance level in the event of a price swing.
On the other hand, Ethereum options expiring tomorrow account for $3.79 billion in notional value. The put/call ratio is 0.41, suggesting a more pronounced bullish bias among Ethereum traders. The max pain point for Ethereum is $3,000, which may influence the asset’s price movement.
BTC Dip To $80K Imminent?
The latest BTC price chart showed that the crypto plunged about 3.5% to $95,175, with its trading volume falling 1.5% to $42.45 billion. Notably, the crypto has touched a 24-hour high of $99,884, while maintaining a monthly gain of 2%. Further, BTC Futures Open Interest also fell about 3.5%, CoinGlass showed, indicating a bearish momentum hovering in the market.
Notably, the market picture indicates that despite soaring institutional interest, the recent developments have weighed on the market sentiment. For context, MicroStrategy (MSTR) stock recorded volatility recently amid its BTC buying strategy, which has fueled market speculations. Besides, many firms like KULR have also shifted their focus towards BTC accumulation.
Meanwhile, in a recent analysis, popular market expert Justin Bennett said that BTC is likely to fall to the $81K-$85K range. This analysis of Bitcoin price has fueled market concerns, with many other experts echoing a similar sentiment.
For context, Ali Martinez noted as Bitcoin dipped below the $97,300 mark, it indicates a bearish momentum for the crypto. However, he noted if BTC rebounds to this crucial support and rally to $100K, it could rally to $168,500 ahead.
Simultaneously, Peter Brandt has also predicted a potential BTC dip to $80K ahead, citing technical trends. On the other hand, popular market expert Tone Vays also said that if BTC trades below the $95,000 mark, it increases the probability of a correction to $75K.
Rupam Roy
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Crypto prices today are showcasing a bullish trend as Bitcoin (BTC) touched $99,000, recovering from a low of $92,000. Major altcoins are also exhibiting positive momentum. Bitget Exchange token (BGB) emerged as the top gainer in the last 24 hours, with an 18% surge. Over the past week, BGB has risen by 48%, outperforming other major altcoins, which showed bearish trends during the same period.
Movement (MOVE) became the second top gainer, with a 15% price increase. The global cryptocurrency market cap rose by approximately 1%, reaching $3.43 trillion, while overall trading volume dropped 11%, settling at $117 billion. The decline in volume is attributed to the ongoing Christmas holiday season globally.
Market activity is expected to rise next week as the United States prepares for Donald Trump’s presidential oath ceremony in three weeks. The Fear and Greed Index currently stands at 63, indicating that greed persists in the market. Here’s an overview of the leading cryptocurrencies by market capitalization and price movements.
Crypto Prices Today: BTC Climbs Higher, XRP, ETH, and SOL Show Positive Momentum
Crypto prices today reflect a strong bullish momentum, with Bitcoin (BTC) maintaining its position near $99,000. Ethereum (ETH) and XRP showed steady gains, while Solana (SOL) rebounded after recent losses. These developments highlight renewed investor confidence in major cryptocurrencies.
Bitcoin Price Today
Bitcoin (BTC) price was trading at $99,123, reflecting approximately a 1% increase in the last 24 hours. Its 24-hour low and high were $97,681 and $99,974, respectively. BTC’s market cap stood at $1.96 trillion, with trading volume dropping to just $35 billion due to reduced holiday activity. Bitcoin’s market dominance rose to 57.04%, up from the previous day. Moreover, Russia has been leveraging Bitcoin and other digital currencies for foreign trade to mitigate the impact of Western sanctions.
Ethereum Price Today
Ethereum (ETH) price was trading at $3,462, marking approximately a 0.5% increase in the last 24 hours. Its 24-hour low and high were $3,442 and $3,545, respectively. ETH’s market cap reached $417 billion, with a trading volume of $18 billion. Additionally, The Sonic Chain has expanded its reach by introducing a new bridge to connect with the Ethereum ecosystem, further bolstering its milestones and ties with Fantom (FTM).
XRP Price Today
XRP price was trading at $2.274, with a 24-hour low of $2.265 and a high of $2.329. Its market cap stood at $130 billion, while the trading volume was relatively low at $4 billion. Crypto analysts are predicting that XRP could potentially reach an all-time high of $3.775 in the near term.
Solana Price Today
Solana (SOL) price was trading at $198, with a 24-hour low of $195 and a high of $201. Its market cap stood at $94 billion, with a trading volume of $2.5 billion. Crypto prices today show a strong outlook for SOL, as a top expert recently predicted its price could reach $330, driven by soaring anticipation towards Solana’s potential ETF approval and other positive market developments.
Meme Crypto Prices Today
Meme crypto prices today are showing a bearish momentum, with top meme coins experiencing a decline. Dogecoin (DOGE) was down by 1%, trading at $0.33. Similarly, Shiba Inu (SHIB) saw a 3% drop, trading at $0.00002256. Despite the overall decline, there are signs of hope within the meme coin community.
In the last 24 hours, Shiba Inu’s burn rate surged by nearly 100%, sparking optimism among its supporters. This increase in burn rate is part of recent advancements within the Shiba Inu community, which have fueled speculation of a potential rally in the near future.
Other top meme coins like BONK, PEPE, and WIF also experienced declines, ranging from 4% to 6% in the last 24 hours. These coins are also facing the broader market pressure, but the recent Shiba Inu developments have added some excitement to the meme coin space.
Top Crypto Gainer Prices Today
Bitget Token
BGB price is making history today, with the coin up by 26% in the last 24 hours, currently trading at $6.291. Its 24-hour low and high are $4.87 and $6.30, respectively. Crypto prices today reflect the remarkable surge of BGB, which has seen a market cap of $8.8 billion and a trading volume of $800 million.
This coin has experienced impressive growth, rising by 300% in the last month and 500% in the past quarter. The extraordinary performance of BGB is drawing significant attention, and its rise continues to fuel optimism in the crypto space.
Movement
Movement (MOVE) price was up by 15% in the last 24 hours, trading at $1.156. Its 24-hour low and high were $0.99 and $1.21, respectively. With a market cap of $2.61 billion, MOVE continues to show positive momentum in the crypto market.
GateToken
GT price was up by 10%, trading at $15.32. Its 24-hour low and high were $13.85 and $15.42, respectively. With a market cap of $1.36 billion, GateToken is ranked among the top 100 coins by market cap, reflecting its strong performance in the crypto market.
Top Crypto Loser Prices Today
Hyperliquid
HYPE price was trading at $26.30, showing an 11% drop in the last 24 hours. Its 24-hour low and high were $25.64 and $30.46, respectively. Despite the recent decline, crypto prices today reflect a market cap of $7.17 billion, maintaining its significant presence in the market.
Helium
Helium (HNT) price was down by 9%, trading at $7. Its 24-hour low and high were $6.90 and $7.64, respectively. With a market cap of just $1.23 billion, HNT is facing a challenging period in the market.
Fartcoin
FARTCOIN price was down by 7% in the last 24 hours, with its 24-hour low and high at $1.112 and $1.288, respectively. Despite the recent decline, it was the top gainer yesterday, surging by 70%.
Besides, the crypto market has continued to hold upside momentum in the last few hours with positive signs of further upside in Bitcoin (BTC), Ethereum (ETH), and major altcoins. Traders are expecting a rally after Christmas from the year’s end crypto options expiry.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The speculations over a potential AVAX price rally soared as Avalanche founder Emin Gun Sirer drew parallels to Bitcoin’s capped 21 million supply. Highlighting AVAX’s maximum supply of 715.74 million and its deflationary mechanism of burning transaction fees, Sirer contrasts it with Ethereum’s uncapped supply. This scarcity-driven approach positions it as a strong contender among digital assets, sparking investor confidence and raising hopes for a potential price surge in the near future.
AVAX Price Gains Attention As Founder Highlights Bitcoin-Like Supply Cap
On December 25, AVA Labs CEO and founder Emin Gun Sirer posted on X, emphasizing a critical aspect of Avalanche – its capped supply, which he likened to Bitcoin’s 21 million fixed limit. Unlike Ethereum, which has no maximum supply and currently has over 120 million coins in circulation, the Avalanche token has a total cap of 715.74 million coins. This scarcity, combined with Avalanche’s mechanism of burning all transaction fees, has sparked discussions about its potential impact on AVAX price growth over time.
Sirer explained that Bitcoin’s capped supply has been a cornerstone of its value, attracting long-term investors and fostering confidence in its deflationary nature. By adopting a similar model, Avalanche aims to position itself as a scarce digital asset with strong value-accrual dynamics. This deflationary mechanism could drive interest in capped-supply tokens.
Also, the comparison with Bitcoin positions Avalanche token as a unique player in the crypto market, offering scarcity alongside a robust ecosystem. These features could make it appealing to investors looking for long-term value, which in turn could boost the Avalanche price ahead. This is especially true in a market dominated by inflationary assets like Ethereum.
What’s Next For Avalanche?
The latest Avalanche price chart showed that the crypto declined 2% to $40.973. Its 24-hour low and high are are $40.08 and $41.84. The token market cap is $16.5 billion with $453 million of trading volume. Despite the recent decline, its market cap and rank suggest resilience and ongoing investor interest.
The expert said that the current price action indicates a bullish momentum ahead for the crypto. Highlighting $34.71 as a key support zone, the expert has shared a strong forecast for the crypto ahead. According to Rose, the AVAX price could target the brief $64.04 or $79.77 mark ahead.
Besides, Avalanche recently launched the Avalanche9000 upgrade. This aims to improve scalability and make launching subnets cheaper. The upgrade could increase network activity, boosting AVAX price in the future.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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