XLM Price Surges 100% on GENIUS Act and USDC Volume Increase

The XLM crypto price surged to its highest level since December, driven by the passage of the GENIUS Act and a significant increase in USDC volume and transactions. This surge has led analysts to set a price target of $1 for XLM, reflecting the growing momentum and stability of the Stellar network. The GENIUS Act, which aims to establish a regulatory framework for stablecoins, has been hailed as a milestone for the crypto industry, providing a clearer path for stablecoin adoption and usage. The increased USDC transactions on the Stellar network indicate a growing demand for stablecoin transactions, which are crucial for cross-border payments and remittances. This development is expected to further boost the adoption of XLM, as it is seen as a reliable and efficient means of transferring value.

The XLM token rally mirrored that of Ripple (XRP), which jumped to a record high after the GENIUS Act passed. The two, which trace a similar origin, have exposure to the booming stablecoin industry. Ripple Labs recently launched the Ripple USD stablecoin, which now has a market capitalization of over $550 million. Stellar, by contrast, remains focused on peer-to-peer transactions, offering some of the lowest transaction costs in the industry. Data from Artemis shows that Stellar’s growth has accelerated this year. It now holds over $180 million in USDC, up nearly 20% over the past 30 days. Adjusted transaction volume rose by more than 54% to $1.6 billion, while the number of stablecoin transactions increased by 11% to 9.3 million. While Stellar is not the largest stablecoin network, it is among the fastest-growing.

The GENIUS Act could benefit Stellar if U.S. users shift toward USDC, as Tether, the dominant player in the stablecoin market, is not compliant. USDT is also backed by gold and Bitcoin (BTC), which adds complexity to its regulatory profile. Stellar may also gain traction as companies like Walmart, Citigroup, and Amazon explore launching their own stablecoins. Some of these firms could choose Stellar as their blockchain of choice. The three-day chart shows that Stellar Lumens bottomed at $0.2188 in April and June. It formed a double-bottom pattern and moved above the neckline at $0.3338, its May high. The token has advanced above the 50-day and 100-day moving averages, while major oscillators have continued to point upward. Stellar has also retested the upper end of its trading range based on the Murrey Math Lines and the January high. Therefore, further gains toward the 2025 high of $0.6318 would confirm the bullish breakout. A move above that level would open the door to a potential surge toward the extreme overshoot level of $1, roughly 100% above current levels.

According to the analyst's forecast, the price prediction for Stellar Lumens in 2030 suggests that the coin could reach a high of $1.062, though it might also dip to a low of $0.738. This prediction is based on the current market trends and the potential for increased adoption of stablecoins. The surge in XLM price and the increased USDC transactions on the Stellar network are indicative of the growing demand for stablecoin transactions, which are crucial for cross-border payments and remittances. This development is expected to further boost the adoption of XLM, as it is seen as a reliable and efficient means of transferring value. The passage of the GENIUS Act and the increased USDC transactions on the Stellar network are expected to have a positive impact on the price of XLM, as they provide a clearer regulatory framework for stablecoins and increase the demand for stablecoin transactions.