Stellar (XLM) made a breakthrough this week, adding to the list of the best performers of the so-called "altseason." Previously, Cardano and Chainlink have shown great results.
XLM rose to $ 0.102 on Friday, July 17th, and jumped to its highest level since early July last year. Over the past 24 hours, cryptocurrency capitalization has added almost 10%, and now it exceeds $ 2.099 billion.
The coin holds the 14th line in the ranking of the most comprehensive digital currencies according to the CoinMarketCap service. Note that Stellar is rising in price today against the backdrop of declining prices for the rest of the popular altcoins.
Trader Peter Brandt believes Stellar will be able to refresh its highs soon. The growth of XLM supports the trend of strengthening altcoins, which is observed against the background of weak volatility in bitcoin.
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Brandt posted a tweet in which he predicted further strengthening of the XLM rate. Moreover, the analyst does not exclude such an option, in which the coin can grow to a two-year maximum, reaching $ 0.17.
Many observers believe that the "alt season" was the result of a weakening of traders' interest in bitcoin.
The BTC Volatility Index monthly has fallen to its lowest since mid-2017. However, an explosion of activity can occur at any time. Moreover, the likelihood of a rollback as a result of the aggravated volatility of BTC is now much higher than the growth of cryptocurrency.