XLM made a strong comeback on Nov. 27, forming a bullish engulfing pattern after a dip. Stellar’s DeFi TVL hit a record $56M, and total assets are close to $300M, boosted by the Franklin Templeton fund. If XLM stays above $0.50, it could test its yearly high.
Big move for XLM! On November 27, the price shot up, forming a bullish engulfing pattern. That’s a strong sign that things are turning around after a recent dip. This comeback absolutely reversed a two-day slump that had put XLM in a mini bear market. But it didn’t just stop there; the whole crypto market, including Bitcoin, had a nice little bounce back too.
Here’s the cool part: Stellar’s DeFi ecosystem is absolutely thriving. Stellar’s total value locked (TVL) in DeFi hit an all-time high of over $56 million. On top of that, assets across Stellar’s ecosystem are pushing close to $300 million, with the Franklin Templeton OnChain US Government Money Fund holding over $400 million. Not too shabby, right?
This price surge also comes with some good news on the regulatory front. U.S. courts have been more friendly to crypto recently. A ruling found that Tornado Cash sanctions went too far, and last year, a judge ruled that XRP wasn’t a security. If things keep going this way, some are even speculating that we might see a Spot XLM ETF in next year.
Now, if XLM stays above $0.50, it could keep climbing, possibly even testing its high for the year at $0.6370. But, there’s always a catch, this recovery might just be a “dead cat bounce,” meaning a short-term surge before a drop. If it dips below $0.4168, then its super bad as it will not have any chances of bouncing back.
Either way, the XLM chart is looking interesting, and Stellar’s ecosystem is definitely making waves. Keep an eye on it—XLM might just be gearing up for a major run.
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