XLM Today - Jul 11: Stellar's Volume Surge

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XLM Today - Jul 11: Stellar's Volume Surge

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Hey there! It’s Joey here, your friendly neighborhood investor, and I’m breaking down the day for you. Today we’re talking about Stellar, or XLM if you’re into the shorthand. It was a bit of a green day, up just over 1%.

So, what went down? Well, XLM saw a nice little bump, but honestly, it’s been a bit all over the place lately. Volume was pretty high today, which is always interesting. It’s like everyone suddenly decided to pay attention. But even with that, the price hasn’t moved much. Just a slow bleed for the last little while, you know?

Now, why did this happen? A couple things are in play here. First off, the big news from SWIFT. They just launched a blockchain ledger with HSBC, Citi, and a bunch of other banks. It’s like they’re throwing down a challenge to players like XRP and XLM in the cross-border payments game. That’s gotta make some folks a little nervous, right? On top of that, Stellar’s been struggling to find its direction. There are talks about whether the bulls are gonna step in before the bears extend their grip. It’s kind of a nail-biter, honestly.

But here’s something interesting: after the launch of something called "Zipper," Stellar saw a 303% increase in volume. That’s a wild jump! It’s like they flipped a switch and suddenly everyone was interested. Plus, Stellar just got added to Bitwise's top crypto ETF, which is a solid move for visibility. So, while there are some challenges, there’s also some momentum happening.

To wrap it up, XLM is in a bit of a tug-of-war right now. There’s definitely some stuff to keep an eye on, especially with the whole SWIFT situation. Just remember, I’m here to share what’s going on, not to tell you what to do with your money. So, keep it chill, and catch you later!

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