Stellar (XLM) Shines With 18% Gains Amidst Market Uncertainty

• Stellar leads gainers with 18% surge; hints at rebranding and RWA focus.
• Total Crypto market volume drops by 42% in 24H.

The entire crypto market is currently marked by high volatility, contributing to it, the global crypto market cap stands at $1.04 trillion, with a slight 0.26% increase over the last day. The total crypto market volume over the past 24 hours has decreased significantly, down by 41.47%, to $16.89 billion, according to CoinMarketCap.

Notably, the total volume in DeFi accounts for $1.78 billion, constituting 10.51% of the total crypto market 24-hour volume. Furthermore, the volume of all stable coins has reached $15.74 billion, representing 93.20% of the total crypto market 24-hour volume. Bitcoin‘s dominance currently sits at 48.29%, marking a decrease of 0.10% over the day.

In the midst of this, it has become rare to witness cryptocurrency charts turning green and experiencing significant surges. Nevertheless, there are some hopeful signs among today’s top gainers.

Stellar (XLM)

Stellar has consistently topped the gainers chart for over a week. After enduring a bearish month with a 7% decline, it has shown signs of recovery over the past seven days, with a notable surge of 18% and an additional 8% increase in just 24 hours. This price upswing follows a somewhat cryptic announcement made by the Stellar organization on social media. While lacking specific details, the announcement hinted at something significant happening on September 12, with phrases like “something cool is dropping” and “change” on the horizon.

Meanwhile ,The trading volume for XLM has also increased by 19% in the last 24 hours, and an analysis of its daily chart reveals a bullish sentiment, with the RSI at 58, indicating a neutral sentiment.

Kucoin Token (KCS)

Kucoin Token, on the other hand, experienced a dark bearish month, with a 26% dip over 30 days. The coin reached a one-year low of $3.82 at the start of September. However, this week has seen a significant recovery, with a 6% surge and an additional 4% increase in just 24 hours. Nonetheless, the trading volume of Kucoin has decreased by 19% in the past 24 hours, and it remains 86% away from it’s all-time high set two years ago. The daily chart analysis for Kucoin Token indicates a bearish sentiment. Currently it is trading at $4.160.

Arweave (AR)

Arweave follows a similar sentiment to the two previous cryptocurrencies, having also endured a bearish month with a 17% decline. It has seen a slight recovery in the past week and a current surge of 4% in the past 24 hours, with the price hovering around $4.18 to $4.30. However, the trading volume for Arweave has decreased significantly by 49%, resting at $2,675,105. The daily chart reveals a battle between bears and bulls, with the RSI at 43, indicating it is nearing an oversold condition.

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