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▲ Stellar (XLM)/ChatGPT generated image
While Bitcoin (BTC) barely caught its breath around the $73,000 mark, Stellar surged 25% in a single day, emerging as the biggest altcoin variable that instantly broke through the bearish market sentiment.
According to crypto media outlet CryptoPotato on May 29 (local time), the cryptocurrency market has found some stability in the last 24 hours after a correction last week that pulled down Bitcoin and major large-cap altcoins. However, Stellar (XLM) emerged as a clear exception among top altcoins, extending its weekly gain to 80%.
Bitcoin fell below $73,000 during the recent weekly correction but later recovered some losses, settling around the $73,400 level. Intraday prices moved between $72,200 and $74,200, showing decreasing volatility ahead of the weekend. CryptoPotato identified the $73,000 range as a short-term key price level, stating that a clear loss of this line could lead to a further drop to $70,000, while a break above $74,000 could ease short-term pressure.
The altcoin market saw limited fluctuations rather than a clear recovery. Ethereum (ETH) traded around $2,000, and major assets like Solana (SOL) and XRP showed no significant change compared to 24 hours prior. BNB showed the strongest performance among top altcoins, rising over 5% in a day, while XRP also remained in slight positive territory.
In contrast, XLM showed completely different movements. XLM surged about 25% in a day, climbing close to $0.20 and recording the strongest upward trend among mid-cap cryptocurrencies. This surge followed immediately after DTCC announced it would connect its tokenization services with the Stellar public blockchain. This service aims to support DTC-held tokenized assets such as stocks, ETFs, US Treasury bonds, and corporate bonds, with availability projected for the first half of 2027.
Other strong performers today included LAB, which rose 37.5%, Algorand (ALGO) with a 9.5% increase, and XDC Network (XDC) up 9%. While the broader market has not fully recovered from the impact of the weekly correction, XLM stood at the center of short-term supply and demand, driven by expectations of institutional infrastructure connectivity.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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