In a notable development for the cryptocurrency market, Stellar's XLM has seen a surge in daily trading volume, signaling a potential resurgence in investor interest. According to the results published in the material, despite the price still being considerably lower than its historical peak, the recent activity suggests a shift in market dynamics.
XLM's Trading Volume and Market Capitalization
Current data reveals that XLM's daily trading volume has reached approximately 165 million, with a market capitalization hovering around 100.8 billion. This uptick in trading activity indicates that traders are actively engaging with the asset, even as its price remains significantly below its all-time high.
Analysts' Insights on Short-Term Momentum
While the short-term momentum is promising, analysts caution that sustained growth will require a larger influx of buyers. The current market conditions highlight the necessity for continued interest to facilitate a longer-term breakout as the cryptocurrency landscape remains volatile and competitive.
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