{"id":129943,"date":"2024-11-25T15:10:46","date_gmt":"2024-11-25T08:10:46","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=129943"},"modified":"2024-11-25T15:10:46","modified_gmt":"2024-11-25T08:10:46","slug":"xlm-bulls-pull-off-epic-comeback-thanks-to-the-derivatives-market","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=129943","title":{"rendered":"XLM bulls pull off epic comeback, thanks to the derivatives market"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em>XLM concludes its most bullish week, and is on track for November to be its most bullish month.<\/em><\/li>\n<li><em>Derivatives demand soars to new highs, aided by news that underpins incoming organic utility.<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/predictions\/stellar-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Stellar\u2019s [XLM]<\/a>\u00a0 native cryptocurrency is making headlines with its eye-watering rally. Its performance so far this month allowed it to go from undervalued to one of the best performing coins of 2024.<\/p>\n<p>XLM pulled off an impressive 61% upside from its lowest to highest price on Saturday, the 23rd of November. This allowed it to extend its weekly gain to 235%.<\/p>\n<p>It has so far rallied by 600% from its lowest to highest price point so far this month, making it one of the best performing top coins.<\/p>\n<div id=\"attachment_445906\" style=\"width: 1023px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445906\" class=\"wp-image-445906 size-full\" alt=\"XLM\" width=\"1013\" height=\"585\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03.png 1013w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03-300x173.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03-768x444.png 768w\" data-lazy-sizes=\"(max-width: 1013px) 100vw, 1013px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445906\" class=\"wp-image-445906 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03.png\" alt=\"XLM\" width=\"1013\" height=\"585\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03.png 1013w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03-300x173.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLMUSDT_2024-11-24_13-41-03-768x444.png 768w\" sizes=\"auto, (max-width: 1013px) 100vw, 1013px\"\/><\/a><\/p>\n<p id=\"caption-attachment-445906\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<p>While XLM appears to be defying gravity, its parabolic performance was also noteworthy for another major reason. The cryptocurrency traded close to its historic lows at the start of November. However, the impressive rally pushed closer to its 2021 ATH.<\/p>\n<h2><strong>XLM derivatives soar to historic levels<\/strong><\/h2>\n<p>Speaking of all-time highs, XLM did achieve a new ATH in one key area that underpinned the recent demand tsunami. XLM open interest on exchanges soared as high as $443.99 million in the last 24 hours.<\/p>\n<p>This was the highest open interest level that the cryptocurrency has achieved in its history.<\/p>\n<div id=\"attachment_445905\" style=\"width: 1357px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445905\" class=\"wp-image-445905 size-full\" alt=\"XLM\" width=\"1347\" height=\"439\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest.jpg 1347w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-300x98.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-1024x334.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-768x250.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-1200x391.jpg 1200w\" data-lazy-sizes=\"(max-width: 1347px) 100vw, 1347px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest.jpg\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-445905\" class=\"wp-image-445905 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest.jpg\" alt=\"XLM\" width=\"1347\" height=\"439\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest.jpg 1347w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-300x98.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-1024x334.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-768x250.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/XLM-open-interest-1200x391.jpg 1200w\" sizes=\"auto, (max-width: 1347px) 100vw, 1347px\"\/><\/a><\/p>\n<p id=\"caption-attachment-445905\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p>In comparison, the level of open interest\u2019s previous peak was $180 million in April 2021. XLM derivatives trading volume soared as high as <a href=\"https:\/\/www.coinglass.com\/currencies\/XLM\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">$10.17 billion<\/a> in the last 24 hours according to Coinglass.<\/p>\n<p>The massive spike in open interest combined with robust spot demand were the perfect cocktail for an explosive rally. However, there were other factors that may have aided the sudden shift in sentiment.<\/p>\n<h2><strong>Stellar Lumens to support the Federal Reserve\u2019s FedNow system<\/strong><\/h2>\n<p>Just two days ago, reports emerged revealing that XLM\u2019s native blockchain Stellar Lumens will support the <a href=\"https:\/\/x.com\/LeviRietveld\/status\/1859891072853213581?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">FedNow initiative<\/a>. This means the network might undergo a massive surge in utility, which may also play out in favor higher demand for the token.<\/p>\n<p>This may have been one of the reasons for XLM\u2019s explosive demand and higher price tag towards the end of the week.<\/p>\n<p>It also underpins the potential for more demand in the coming weeks. This is because such news could encourage more HODLing in anticipation of higher prices.<\/p>\n<hr\/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"https:\/\/ambcrypto.com\/predictions\/stellar-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Stellar\u2019s [XLM] Price Prediction<\/a>\u00a02024\u20132025<\/p>\n<hr\/>\n<p>Nevertheless, a pullback in the short-term could be on the cards. The main reason being that the cryptocurrency was extremely overbought at the time of writing.<\/p>\n<p>However, based on XLM\u2019s recent performance, it is possible that it could extend its price action into price discovery in 2025 and perhaps even sooner than that.<\/p>\n<p>\u00a0<\/p>\n<div class=\"post-nav\">\n<div class=\"previous-blog\">\n\t\t\t\t\t\t\t\t\t\t\tPrevious: <a href=\"https:\/\/ambcrypto.com\/bonk-declines-30-as-profit-taking-intensifies-key-levels-to-watch-for-bulls\/\" rel=\"next\" data-wpel-link=\"internal\">BONK declines 30% as profit-taking intensifies \u2013 Key levels to watch for bulls<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/shiba-inu-set-for-a-breakout-whale-activity-suggests-big-moves-ahead\/\" rel=\"prev\" data-wpel-link=\"internal\">Shiba Inu set for a breakout? Whale activity suggests big moves ahead<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/xlm-bulls-pull-off-epic-comeback-thanks-to-the-derivatives-market\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>XLM concludes its most bullish week, and is on track for November to be its most bullish month. Derivatives demand soars to new highs, aided by news that underpins incoming &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=129943\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-129943","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/129943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129943"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/129943\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}