XLM Nears 100% Rally After DTCC Partnership
XLM topped $0.27 on June 1 and has nearly doubled to an $8.5 billion market cap since the DTCC partnership, outpacing XRP as the crypto market fell 1.4%.
Stellar’s XLM rose past $0.27 on June 1, reaching a high of $0.271637 before retreating below $0.26. Since announcing a partnership with the Depository Trust & Clearing Corporation, XLM has nearly doubled in value and its market capitalization is about $8.5 billion.
Intraday, XLM moved from roughly $0.243 to $0.271637 late Sunday and hit $0.27 again just before 3 a.m. EST. The token’s 24-hour gains briefly reached about 14% before a broader market sell-off trimmed the gain to roughly 5% by 5:10 a.m. EST. Market data show XLM was one of three top-20 digital assets to post gains that day, alongside Hyperliquid’s HYPE and TRON’s TRX.
Trading around the surge produced liquidations of roughly $4.6 million in short positions and about $3.76 million in long positions over a 24-hour window. The price action moved XLM into the top 20 by market capitalization.
The DTCC agreement will see the post-trade infrastructure firm tokenize custodied assets on the Stellar blockchain, making Stellar an option for post-trade settlement. Market participants also pointed to Cash App enabling USDC payments on Stellar for its users and Bermuda moving national payment services to the Stellar network.
XRP closed May with a net monthly loss of about 6%. Since testing $1.60 on May 14, XRP has fallen nearly 20% and is about 29% down year to date, widening its gap with Binance Coin in market-cap rankings.
Some XRP supporters urged retail investors on social platforms to avoid reactionary capital rotation into XLM. Other observers noted that Ripple’s existing institutional relationships and infrastructure remain relevant to market assessments.
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