Stellar (XLM) experiences a brief rebound before dropping again
In the aftermath of a significant crypto market sell-off, several altcoins, including Stellar (XLM), showed signs of recovery. However, the gains were short-lived as Stellar quickly reversed its fortune and entered the red zone. XRP, XDC Network, and Litecoin LTC also experienced a robust recovery but ultimately faced losses. XRP was trading at $0.124, down more than 6.3% in the past 24 hours. Stellar’s token saw weekly and monthly losses of 9.5% and 24.6%, respectively, with over $1 billion wiped off its market cap in the past 30 days.
Key Points:
- Stellar (XLM) experienced a brief rebound after the crypto market sell-off.
- Other altcoins, such as XRP, XDC Network, and Litecoin LTC, also showed signs of recovery.
- XRP faced a 6.3% drop in the past 24 hours.
- Stellar’s token saw losses of 9.5% weekly and 24.6% monthly.
- Over $1 billion was wiped off Stellar’s market cap in the past 30 days.
Hot Take:
The brief rebound of altcoins, including Stellar (XLM), after the crypto market sell-off was a hopeful sign for investors. However, the subsequent drop and losses highlight the volatility and uncertainty in the cryptocurrency market. While some analysts remain optimistic about the future trajectory of XLM, the overall pressure on the broader market makes the realization of significant price increases uncertain. Crypto investors should approach investments with caution and consider the risks involved.
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