The global cryptocurrency market increased by 11.5% this week, reaching a record high of $3.49 trillion and adding $358 billion in valuation.

Bitcoin (BTC) surged over 8% during this period as buyers attempted to breach the $100,000 psychological resistance, and the hype spilled over into the broader altcoin market.

Some standout performers this week included Stellar (XLM), Dogecoin (DOGE), and Cardano (ADA).

Stellar rallies over 190%

Stellar surged over 190% in the last seven days, exchanging hands at $0.4436, its 40-month high as demand surged, making it the best-performing asset among the top 100 cryptocurrencies per data from CoinGecko.

The altcoin was up nearly 430% from its lowest price in July.

The majority of these gains came on Nov. 23, following a recent announcement from the Federal Reserve highlighting Stellar as a potential tool for powering the blockchain component of its FedNow payment system.

Traders remain optimistic about XLM’s potential. In an X post, analyst Charting Guy, who has over 20,100 followers, noted that the price movement over the last seven years has formed an Adam and Eve pattern on its one-month chart.

The ana

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Author: Rony Roy