- Market Sentiment: Positive news, such as new partnerships or regulatory approvals, can drive XLM’s price up, while negative developments can lead to declines.
- Bitcoin’s Price Movements: Since the entire copyright market often follows Bitcoin’s trend, XLM’s price is influenced by BTC fluctuations.
- Adoption and Utility: The more Stellar is used for real-world applications like remittances and DeFi, the greater the demand for XLM, which can affect its price.
- Regulatory Changes: Any legal restrictions or endorsements related to blockchain and copyright payments can impact XLM’s market performance.
Understanding these factors helps traders and investors make better decisions regarding the XLM price.