- Grayscale’s crypto holdings surged 85% in November, led by Stellar (XLM), XRP, and MANA, indicating strong altcoin momentum.
- Stellar rose 469% to $0.55, driven by institutional interest and long-term bullish patterns. Its projections are $3–$5.
- Institutional adoption, Bitcoin reallocation, and potential regulatory changes fuel XRP and ETH growth forecasts.
Grayscale Investments’ crypto holdings witnessed a remarkable 85% increase in market capitalization during November, according to Cryptorank data. Stellar (XLM), XRP, and Decentraland (MANA) led the charge, demonstrating triple-digit gains. This surge reflects increasing investor confidence in altcoins as they regain momentum amid an anticipated altcoin season.
Despite these challenges, Grayscale’s Stellar Lumens Trust grew its net assets by 10%. Additionally, 34.8 million XLM tokens bolstered trust assets, aligning with Stellar’s market recovery. Meanwhile, derivatives markets for XLM saw a 284.26% surge in trading volume and a 125.88% increase in open interest, signaling heightened institutional interest.
Stellar Price Reaches $0.55 Amid Bullish Momentum
Stellar sustained a remarkable 469% increase, surpassing the mark of $0.55. The surge in currency broke the resistance level of $0.40, and investors became more optimistic. The founder, Jed McCaleb, emphasized Stellar’s performance in real-world financial systems, thus lending further credibility and potential for sustaining the growth trend.
Meanwhile, XRP has risen dramatically by 262%, and analysts even projected further increases in this rate. MANA has also increased by more than 105%, suggesting a resurgence of interest in the assets associated with the metaverse. Grayscale’s strategic investment in these assets enabled the firm to position its portfolio for aggressive returns from a relatively low point due to high volatility earlier in the year.
Stellar traders have prepared for sustained bullish momentum based on an asset price structure developed over many years. “Charting Guy,” a prominent market speculator, believes that the XLM price will post $3 to $5. The analyst pointed out that since 2017, Stellar’s monthly chart has had higher lows in the form of an Adam and Eve pattern, typically associated with a prolonged uptrend.
Institutional Interest Fuels Altcoin Momentum
According to the market-dominating altcoins analysts, the season heading into 2025, Ether (ETH) is expected to reach $4,000. The XRP price may rally to $2.57 by December 2024, fueled by post-Bitcoin-halving effects and potential regulatory changes. These projections highlight a favorable environment for altcoin growth in the coming months.
The trajectory of XRP might be improved if the SEC approves an XRP ETF. Asset Management 21Shares applied for this ETF with the US Security and Exchange Commission in November to take a significant step toward institutional adoption. SEC Chair Gary Gensler’s resignation in January might promote more crypto-friendly rules and increase cryptocurrencies’ appeal.
Investors reallocating Bitcoin profits into altcoins have contributed to the current rally. Bitcoin’s dominance dipped below its two-year support line in November, traditionally signaling an altcoin performance boost, which underscores the growing confidence in altcoins as viable investment options in a dynamic market landscape.
With Stellar and XRP altcoins showing their ability to endure and perform, the entire market is gearing up for a transformation phase. The altcoin season may bring about big profits for investors in 2025 due to factors like institutional adoption and favorable regulatory initiatives on the horizon.
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