Stellar Lumens Surges to $0.22 Amid Growing Tokenized Asset Adoption
Stellar Lumens (XLM) has reached $0.22, marking a 9.66% gain over the past 24 hours. The surge is attributed to the growing adoption of tokenized real-world assets on the Stellar chain, which now exceeds $4 billion in market capitalization.
The majority of these assets are dollar-denominated stablecoins, with USDC being the most widely held. However, a count by cryptoticker.io found that 446 tokens on Stellar carry the name USDC, but only one is issued by Circle, the genuine issuer of USDC.
Investors must exercise caution when buying stablecoins on Stellar, as verifying the issuing address and trustline is crucial to avoiding scams. The analysis also revealed a significant imbalance in the distribution of euro-denominated stablecoins (EURC), with only 3.68 million EURC held compared to 351.17 million USDC.