Brandt Bets on Stellar: A Long-Shot Pick With Real-World Assets
Peter Brandt, a veteran trader known for his critical views on XRP, has selected Stellar (CRYPTO:XLM) as his long-shot pick. This choice is noteworthy given that both Stellar and XRP are designed to facilitate fast and affordable cross-border money transfers.
After Brandt's announcement, XLM surged 11%, driven by both the news and a growing trend toward institutional adoption. However, by October 1, the price settled back to around $0.22.
XLM rose 27% over the past month but sits 75% below its all-time high of about 88 cents in January 2018, with a market cap one-twelfth of XRP's $94.5 billion.
Stellar now hosts about $2.75 billion in tokenized real-world assets, including bonds and fund shares, highlighting businesses' preference for real utility over speculation driven by a single trader's name.