“Endorsed by a $114 Trillion Giant”...XLM Surges 70% in a Week on Infrastructure Boost

▲ Stellar (XLM)/AI-generated image

Stellar (XLM) has completed a golden cross on its short-term chart and surged approximately 70% in a week, with the positive news of U.S. market infrastructure tokenization once again driving XLM's buying interest.

According to crypto media outlet U.Today on May 31 (local time), XLM formed a golden cross on its 4-hour chart, with the 50-day moving average breaking above the 200-day moving average. U.Today reported that this signal appeared at different times on multiple short-term charts, including 1-hour, 2-hour, and 3-hour charts, confirming the current bullish momentum.

XLM has risen approximately 70% this week. This price level was last seen in November 2021. XLM also surpassed its daily 50-day moving average of $0.164 and its 200-day moving average of $0.19, which had been limiting its rise since the beginning of the year.

This surge began after DTCC and the Stellar Development Foundation announced plans on Wednesday to support the tokenization of DTC-held assets on the Stellar network. DTC tokenized assets are expected to be available on the Stellar network in the first half of 2027. U.Today highlighted the significance of this move, noting that DTCC is at the heart of U.S. market infrastructure and oversees over $114 trillion in assets.

Demand for XLM has also expanded in the derivatives market. Perpetual futures open interest increased by 21.78% in the last 24 hours, reaching $378.99 million. U.Today explained that the increase in open interest suggests that retail investors are confident in XLM's short-term and medium-term outlook and are opening new positions.

Meanwhile, XLM's market capitalization was reported at $8.49 billion. Stellar ranked 14th in cryptocurrency rankings, with Cardano (ADA) positioned above it.

*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.*