Stellar (XLM) is experiencing significant growth following the dismissal of the SEC lawsuit against Ripple.
Brief Overview
Stellar (XLM) jumped 15% in just 12 hours, rising from $0.40 to $0.4644. This surge occurred after news broke that the SEC was dropping its long-standing lawsuit against Ripple, providing a boost for Stellar.
Surge in Trading Volume and Market Capitalization
Moreover, trading volume spiked, crossing $1.1 billion within 24 hours. Just a day prior, XLM was struggling to stay above $0.41, but is now eyeing the next key resistance at $0.51. The market cap increased to $14.5 billion, pushing Stellar back into the top 20 cryptocurrencies.
Future of Stellar and Upcoming Updates
Stellar is less than a month away from its Protocol 23 mainnet vote, scheduled for September 3. If approved, this upgrade will introduce smart contract support and enhanced features for tokenized real-world assets, which are currently gaining attention from major players.
In summary, Stellar's recent breakout is driven not only by news but also by tangible market events and upcoming upgrades that may influence future trends.
