Stellar (XLM) has experienced a significant price surge leading to massive short position liquidations. The cryptocurrency market also showed a slight increase.
Liquidation Results of Short Positions on XLM
In the last hour, traders betting against Stellar saw losses of $160,090. This followed a sharp increase in the price of XLM, which is now trading at $0.2884, a 13.98% increase from earlier figures. Trading volume for XLM also surged by 46.05%, reaching $373.65 million.
What is Fueling Stellar's Growth?
The current price increase for XLM may be linked to the release of Stellar Core v23.0.0rc2, aimed at introducing a new core advancement proposal to the network. Though not fully implemented yet, it has already contributed to an 8% price rise.
Comparison with XRP
In contrast to XLM's growth, its competitor XRP has only seen a 3.88% increase, indicating a potential decoupling of the two assets. Stellar previously witnessed a delayed golden cross, which now appears to have positively impacted its current price movement.
The rapid growth of Stellar (XLM) and its current dynamics showcase the active nature of the cryptocurrency market, signaling potential future price trends.
