XRP just set a new peak at $3.65, marking a major turning point with an increase of over 33% in 7 days.
However, Stellar (XLM) is the cryptocurrency that grew the strongest over the past week, recording an increase of over 62%, thanks to the attraction from individual and institutional investors and strategic partners.
- XRP reached a new peak, increasing 33% in the past week but not the strongest-growing token.
- Stellar (XLM) leads with a 62% increase, reinforced by partners and practical applications.
- Bonk Token (BONK) and Pudgy Penguins (PENGU) also showed significant price increases, attracting large market attention.
What is Stellar (XLM) and why is it growing strongly?
Stellar (XLM) is known as an efficient payment and digital asset platform, breakthrough in Tokenization and stablecoin fields. According to the Stellar Development Foundation's 2024 report, XLM increased 62% this week, thanks to growing interest from individual and institutional investors.
XLM is currently trading around $0.49, increasing 365% compared to the same period last year. The presence of PYUSD stablecoin issued on the Stellar platform helps increase the token's applicability and reliability. The current resistance level is determined to be around $0.56-$0.60, promising many breakthroughs if this level is broken.
Stellar is not just a cryptocurrency project, but also a comprehensive digital asset bridge, supporting large-scale DeFi and CeFi applications.
Denelle Dixon, CEO Stellar Development Foundation, 2/2024
Bonk (BONK) – How did this Meme token create a sensation on the Solana network?
Bonk (BONK), a prominent Meme token on the Solana ecosystem, surged by 53% in the past 7 days. The peak price touched $0.00004022 before slightly adjusting to $0.0000357. However, BONK's market capitalization remains at $2.89 billion, creating a large attraction for institutional investors.
Analysts believe that if the resistance zone of $0.00004676 is broken, BONK has more growth opportunities thanks to the market's positive sentiment. This Meme Coin has become evidence of volatility and high profit potential in Solana-based Tokens.
Pudgy Penguins (PENGU) – How did it transform from NFT to Token superstar?
The PENGU Token from the Pudgy Penguins NFT collection skyrocketed with a 229% increase in a month and 43.5% in a week. The 24-hour trading volume reached a peak of $1.18 billion, showing the Token's market heat.
Analysts say if PENGU maintains support around $0.025-$0.027, the price could continue breaking through to $0.033-$0.040 in the near future, making it a highly potential short-term investment hotspot.
Who are the other cryptocurrencies in the race and what is the trend?
Tokens like Hedera (HBAR) and Algorand (ALGO) also recorded increases of over 40%, but cannot match XLM's explosive performance this week. Although XRP has attraction due to its breakout, if Stellar maintains its growth momentum, it is very likely to become the leading cryptocurrency market star in the near future.
"Stellar's sustainable growth in Tokenization and stablecoin fields will open a new era for DeFi."
Brad Garlinghouse, CEO Ripple, 2024
Frequently Asked Questions
What does XLM's strong growth mean for investors?
XLM's strong increase shows trust from individual and institutional investors due to the platform's practical applications, helping reduce Token value risks.
Does the BONK Token have long-term potential?
BONK remains a highly volatile Meme token, but its attraction from institutional parties and large liquidity create growth momentum in the near future.
What factors are driving PENGU Token's active trading?
Massive trading volume and technical indicators demonstrate potential for sustainable price increases, attracting investor and trader communities.
Will XLM replace XRP in the top Token role?
Although XRP has an impressive breakout, XLM with its current growth rate may overtake and claim market leadership.
How to assess cryptocurrency market health through these Tokens?
The diverse growth of XLM, BONK, and PENGU shows that the cryptocurrency market still has many opportunities despite significant volatility.
