Stellar (XLM) Plunges 48% in Trading Volume as Bitcoin Dominance Soars

Stellar (XLM) just got hammered with a massive 48% drop in trading volume, falling to $78.6 million as Bitcoin's dominance keeps growing stronger.

XLM Can't Keep Up with Bitcoin's Run

Things aren't looking great for Stellar right now. The trading volume just tanked by 48.03% to $78.6 million in the last 24 hours, according to CoinMarketCap. That's a pretty brutal hit for any crypto, and it shows just how tough things are getting for altcoins.

The problem is pretty clear - XLM simply couldn't hold onto its recent gains. Over the past month, Stellar has been all over the place, dropping 10.57% as traders kept waiting for something good to happen. It looked like things might turn around when XLM hit $0.2406, but that didn't last long. Now it's sitting at $0.2379, down 0.88% in the last day.

Bitcoin's 64.6% Dominance Is Crushing XLM

Here's what's really going on - Bitcoin is absolutely dominating the crypto market right now with 64.6% market share. When Bitcoin gets this strong, it basically sucks up all the money that would normally go to coins like Stellar. Investors are playing it safe and sticking with Bitcoin instead of taking risks on smaller altcoins.

This isn't just affecting XLM either. Pretty much every altcoin is feeling the squeeze as people dump their riskier holdings and pile into Bitcoin. It's like when everyone runs to gold during a financial crisis, except this time it's Bitcoin getting all the love.

XLM Still Has Some Tricks Up Its Sleeve

Don't count Stellar out just yet though. The charts are showing some consolidation, which could mean XLM is getting ready for another run. If the volume picks up again, we might see it push toward $0.26 or even $0.30.

The real game-changer could be PayPal jumping on the Stellar network. They're just waiting for the green light from New York regulators, but once that happens, it could be huge for XLM. Having a major player like PayPal using your blockchain is exactly the kind of thing that gets investors excited again.

If PayPal does launch on Stellar, it could bring in a ton of new users and trading volume. That's the kind of real-world adoption that actually matters, not just hype and speculation. It might be exactly what XLM needs to break out of this slump and show Bitcoin it's not going down without a fight.