XLM surged 6% to $0.3880 on Saturday, becoming the top performer among top 20 cryptocurrencies. The rally follows PayPal's announcement of launching its PYUSD stablecoin on Stellar, with executives highlighting the network's speed, low costs, and global reach across 170+ countries.
Stellar's XLM token climbed 6% to $0.3880 on Saturday, marking the best daily performance among the top 20 cryptocurrencies by market cap. The price movement follows PayPal's June announcement to launch PayPal USD (PYUSD) on Stellar pending regulatory approval, expanding the stablecoin beyond Ethereum and Solana. PayPal executives emphasized Stellar's infrastructure for low-cost, high-speed payments and its existing network across 170+ countries. Ian Burrill, PayPal's Senior Director of crypto engineering, highlighted how PYUSD on Stellar enables real-time merchant payments and efficient capital management. The technical analysis shows XLM traded within a $0.071 range with significant volume spikes, establishing support levels around $0.385-$0.387.