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Crypto Market News

06/16 14:15

Stellar price surges 14% as XLM rally gains steam

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Stellar has climbed more than 14% over the past 24 hours, making $XLM the best-performing asset among the top 100 cryptocurrencies by market capitalization as fresh ecosystem developments have drawn renewed buying interest. According to CoinGecko data, $XLM traded near $0.22 on June 16 after surging from levels below $0.19 earlier in the week. The rally transpired alongside a sharp rise in trading activity, with Stellar network volume reportedly jumping to nearly $880 million from about $153 million over the weekend. Strong buying interest has emerged as payment-focused decentralized finance projects, commonly known as PayFi, continue to attract capital. Market participants have linked part of Stellar's advance to the sector's recent outperformance, which has exceeded gains across much of the altcoin market. Institutional adoption has also added support. Spiko Finance recently announced that it had tokenized $1 billion in assets on the Stellar network, a milestone that strengthens Stellar's standing in the real-world asset tokenization sector. The development has increased attention on the network's role as infrastructure for regulated financial products and on-chain asset issuance. Enterprise payment activity expanded further after Zebec launched its payroll platform on Stellar. The service allows employees and contractors to receive salary payments directly into digital wallets, while Mastercard-backed debit cards and local currency conversion tools provide additional spending options. The rollout adds another real-world use case to Stellar's payment network and could contribute to sustained transaction activity. Simultaneously, in a recent SEC filing, London-headquartered VersaBank outlined its Digital Meteor initiative, which introduces Real Bank Tokenized Deposits on Ethereum, Algorand, and Stellar. According to th
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