On Saturday, Stellar’s XLM token surged by 6%, reaching $0.3880, marking the highest percent change among the top 20 cryptocurrencies by market capitalization.

Key Highlights:

• Earlier this week, Ian Burrill, Senior Director at PayPal, expressed excitement about the upcoming launch of its stablecoin, PayPal USD (PYUSD), on the Stellar network.
• Following Bitcoin’s new record price, XLM was among the few cryptocurrencies to achieve significant daily growth.

Stellar XLM

According to PayPal, the collaboration with Stellar aims to optimize the processing of PEUSD for payments and financial services across over 170 countries.

May Zabaneh, PayPal’s vice president for digital currencies, mentioned that this partnership could enhance the usage of blockchain in cross-border transactions. Denelle Dixon from Stellar added that this initiative would serve emerging markets and small enterprises globally.

“Stellar’s XLM has climbed from $0.3661 to $0.3880, peaking at $0.4095 within a 24-hour period.”

Technical Analysis

• XLM saw significant trading activity, with shares experiencing a 20.59% volatility, and establishing technical support near the $0.354 price level.