Cryptocurrencies Price Prediction: Stellar, Cronos & Solana — Asian Wrap 28 August
|Stellar Price Forecast: XLM shows early signs of recovery
The Stellar (XLM) price trades around $0.38 on Thursday, following a recent pullback, with price action nearing a key support zone that could pave the way for a rebound. Derivatives data also support the recovery thesis, as funding rates have turned positive. Adding to the optimism, VersaBank has announced plans to leverage the XLM blockchain in testing its tokenized deposit, USDVB.
Crypto Gainers: Cronos, Kaia, and Raydium extend gains as bullish momentum holds
Cronos (CRO), Kaia (KAIA), and Raydium (RAY) are the top performers in the cryptocurrency market over the last 24 hours. Cronos extends the rally fueled by the Trump Media and Crypto.com partnership for a CRO treasury company. The adoption of Kaia Chain for USDT transactions by the South Korean exchange Upbit drives the recovery run in KAIA. Raydium, under its recent buyback policy, has reacquired 71 million RAY tokens, resulting in a 26% decline in circulating supply and boosting demand.
SOL gains 5% as Solana treasuries surpass $1.7B following rising institutional demand
Solana (SOL) gained 5% on Wednesday as corporate treasuries expanded their holdings to 8.27 million SOL, valued at $1.72 billion. Institutional demand for Solana has climbed in recent months, with the number of corporate SOL treasuries reaching thirteen, according to data from the Strategic SOL Reserve website. The data suggests that Solana treasury companies have scooped a combined 8.27 million SOL, worth $1.72 billion in the past few months. Their total holdings now constitute 1.44% of Solana's total supply.
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