The XLM price experienced a strong rebound, forming a bullish engulfing candlestick pattern. Stellar's recovery was supported by a broader crypto market rebound, as well as strong performance in its DeFi ecosystem, which reached a record high of over $56 million in total value locked. The growth was also driven by the Franklin Templeton OnChain US Government Money Fund accumulating over $400 million in assets. Additionally, favorable regulatory rulings in the US and speculation of a potential XLM ETF in 2025 added to Stellar's price increase. However, there is a risk of a dead cat bounce if the price falls below $0.4168.
- Content Editor ( crypto.news )
- 2024-11-27
XLM price forms a rare pattern as Stellar DeFi TVL hits record high