Stellar (XLM) Rallies: Analysts Forecast 594% Gains Amid New Integrations

Stellar (XLM) Rallies: Analysts Forecast 594% Gains Amid New Integrations

Amid the remarkable developments surrounding XRP Ripple, Stellar (XLM) is also making impressive strides in the cryptocurrency market.

As of this writing, XLM is trading at approximately $0.1019, reflecting a 9.31% increase over the past 24 hours. Its daily transaction volume has surged by an impressive 246.89% to $279.36 million, positioning it as the 26th largest cryptocurrency with a market capitalization of $2.99 billion.

While XRP soared to lead today’s top gainer list, XLM followed closely, securing a spot among the top five best-performing cryptocurrencies.

Analyst Predicts Substantial Growth for Stellar (XLM)

Prominent analyst Javon Marks has expressed optimism about Stellar’s continued bullish momentum, forecasting a target price of $0.681. Marks suggests that XLM’s price is likely to sustain its breakout level and establish a significant higher low.

This forecast hints at a potential upswing reminiscent of the 2020–2021 rally. Such higher lows and breakouts could signal a remarkable 594% return, potentially driving the price back to or even above its all-time highs (ATH).

In a related development, Simplex recently announced the integration of USDC on the Stellar network. Through its partnership with StellarOrg, users can now effortlessly purchase USDC on Stellar, benefiting from quicker and more cost-effective transactions.

Earlier this month, CNF reported that Paychant, a Web3 on- and off-ramp solution catering to African users, has incorporated the Stellar Anchor Platform (SEP-24) to extend its services across the continent. This integration allows any Stellar wallet or dApp to leverage Paychant for native XLM and USDC stablecoin on- and off-ramping.

Additionally, financial institutions are increasingly adopting the Stellar network for asset tokenization. Stellar is becoming a preferred platform for the tokenization of real-world assets (RWA).

Taurus, an infrastructure provider backed by Deutsche Bank, has also expanded its digital asset issuance and storage capabilities by integrating with the Stellar Network.