Why is Stellar’s XLM up by over 50% this week?
XLM rallied after US financial giant DTCC announced a partnership with the Stellar Network, but it still risks a sharp downside in the coming weeks.
Stellar’s native token, XLM, has rallied more than 50% this week, outperforming the broader crypto market, which has declined by nearly 5% in the same period.
Key takeaways:
XLM’s price surged after a major institutional partnership announcement by the Depository Trust & Clearing Corporation (DTCC), a US financial giant that clears and settles $10 trillion to $12 trillion in securities transactions daily.