Bitcoin and top altcoins are rising today, helped by the improving geopolitical situation as the US-Iran tensions have cooled. BTC rose to $73,200 from this week’s low of $72,000, while the market capitalization of all coins rose to $2.47 trillion. Stellar (XLM) token rose by 18% in the last 24 hours, reaching a high of $0.2160, its highest point since January 26 and 45% above the lowest point this week. Hedera (HBAR) token rose for the second consecutive day, reaching a high of $0.091, its highest level since May 16. Hyperliquid (HYPE) rose to $61.7, up by over 200% from the year-to-date low of $20. Some of the other top gainers were tokens like Humanity, DeXe, Algorand, and Cardano’s Midnight. READ MORE: Here’s why Brent crude oil price may drop below $60 soon Stellar’s XLM token jumped after DTCC partnership Stellar token went parabolic after the developers unveiled a major partnership with Depository Trust & Clearing Corporation (DTCC), an organization that processes an average of $8 trillion a day in security transactions. This translates to about $2 quadrillion in volume across the equity, bond, and financial instruments annually. https://twitter.com/StellarOrg/status/2059609329376858380 The partnership will see tokenized assets available on the Stellar network in the first half of next year. It will support the rapid conversion of traditional assets into tokenized form and the full asset lifecycle, including reporting. Denelle Dixon, the CEO of Stellar Development Foundation (SDF) said: “DTCC is the backbone of global capital markets, and integrating their tokenization service with Stellar connects public blockchain networks to regulated market infrastructure.” The partnership comes at a time when more large organizations are embracing Stellar’s technology. Some of the most notable ones are Franklin Templeton, WisdomTree, Janus Henderson, and Ondo. Data shows that its distributed asset value in its RWA ecosystem rose by 14% in the last 30 days to $1.82 billion. RWA transactions rose by 67% to $294 million. HYPE price jumps as Hyperliquid network booms The HYPE token price has soared this year, moving from a low of $20 to the current $61. This surge has brought its market cap to over $15.6 billion, making it one of the biggest players in the crypto industry. HYPE price has had several bullish catalysts. For example, the recently launched HYPE ETFs have continued to fire on all cylinders, adding over $100 million in inflows and having $122 million in assets. Bitwise’s BHYPE has gained over $65 million in assets, while 21Shares THYP has gained $56 million. Hyperliquid is also benefiting from the ongoing volume surge amid the US-Iran war. This war drove more people to use its platform to trade crude oil futures, especially during the weekend when the normal markets are closed. This surge has led to higher network fees, token buybacks , and burns, which has improved its tokenomics. HYPE has formed a cup-and-handle pattern, pointing to more gains in the longer term. Hyperliquid price chart | Source: TradingView Hedera price jumped amid dip-buying Hedera price soared to $0.092, its highest point in three days, and by over 12% from its lowest point this week. This rebound happened as investors started buying the dip as it had no major catalyst. Hedera, despite its popularity, has some major headwinds, including its ecosystem growth. For example, the total value locked (TVL) has dropped to just $53 million from last year’s high of $213 million. Its chain fees dropped to $53,000 in the first quarter from last year’s high of $206k. The post Crypto rally today: Why are Stellar, Hedera, Hyperliquid going up? appeared first on Invezz
