- Stellar could see increased adoption as PayPal considers integrating its PYUSD stablecoin on the network.
- Analysts highlight XLM could surge toward $0.68, with further upside possible to $1.29.
- Derivatives volume and open interest have cooled, showing balanced sentiment with minimal speculative pressure.
Stellar (XLM) is gaining attention as PayPal considers bringing its stablecoin to the network, which would offer users access to existing financial services. Analysts see strong growth potential, positioning XLM as a cryptocurrency to watch.
At the time of writing, Stellar (XLM) is trading at $0.3721, with a 24-hour trading volume of $443.25 million and a market capitalization of $11.75 billion, having seen a slight dip of 2.78% over the past 24 hours.
Stellar XLM Gains as PayPal Considers PYUSD
Prominent crypto analyst ALLINCRYPTO stated that Denelle Dixon, CEO of the Stellar Development Foundation, is in discussions with PayPal about bringing its PYUSD stablecoin on the Stellar network. Dixon explained that PYUSD users would gain access to a variety of financial services already operating on XLM, underscoring the network’s growing appeal for mainstream payment platforms.
Stellar XLM Shows Strong Momentum Ahead
Adding to the optimism, Javon Marks, a crypto analyst, noted that a potential upward move is taking shape for XLM. XLM would initially look for the $0.681 level, a rise of about 78% from current levels, according to Marks. A successful breakthrough of that level could even open the doors for XLM to move up to $1.29.
With major payment systems favoring XLM and potential price targets indicating significant upside, XLM may be one of the cryptocurrencies to watch in the coming weeks.
Also Read | Stellar (XLM) Price Analysis: Bullish Pattern Points Breakout Toward $0.66
XLM Derivatives Show Cooling Momentum
The XLM derivatives market has cooled, and trading volume has decreased by 27.99% to $313.45 million, while open interest has decreased by 2.52% to $320.26 million. This retracement indicates lower market participation, signaling that investors have been refraining from sharp moves even as prices have shifted.
The OI Weighted funding rate is 0.0054%, and the market appears very balanced, with no notable bias toward either long or short positions. This stability reflects that activity has declined, yet the market has remained steady without noticeable speculative pressure.
Also Read | Stellar Price Prediction: XLM Defending $0.36, Aiming For $1.10 Target
