Hashdex's ETF includes Stellar (XLM), but will it boost the XLM price? We analyze the potential impact of the ETF, key price levels, and on-chain growth.
Stellar (XLM) just got a boost with Hashdex's multi-asset crypto ETF approval. But with XLM's price currently around $0.37, can this ETF inclusion actually lift it higher? Let's dive into the factors at play.
ETF Approval: A New Avenue for Stellar
The SEC's green light for Hashdex's Nasdaq Crypto Index U.S. ETF is a big deal. It's the first multi-asset spot crypto product approved in the U.S., giving investors exposure to a basket of cryptos, including Bitcoin, Ethereum, Ripple, Solana, and now, Stellar (XLM). Think of it as a crypto sampler platter for institutional investors.
ETFs make it easier for larger players like funds and banks to invest in crypto without directly holding the tokens. Hashdex CEO Marcelo Sampaio nailed it when he said it “gives investors an easier way to participate in a fast-growing crypto industry.” For Stellar, this could mean a steady stream of demand from these big-money investors.
XLM Price: Holding the Line at $0.35?
Right now, XLM is trading near $0.37, after dropping more than 6% recently. It's been trading inside a descending triangle, which is a fancy way of saying it's consolidating. The key level to watch is $0.35. Buyers seem to be defending this level, but if it breaks, we could see XLM slide further, possibly down to $0.30.
On the flip side, if XLM can hold above $0.35, a push back towards $0.40–$0.45 is possible. A breakout above $0.45 could even open the door to $0.50. Keep an eye on that RSI – it's currently neutral, meaning there's room for either a dip or a rebound.
Stellar's On-Chain Growth: A Reason for Optimism
While the short-term price action is a bit shaky, Stellar's fundamentals are looking solid. The Total Value Locked (TVL) on Stellar hit a record high in September, and smart contract usage is booming. We're talking PayPal launching its stablecoin PYUSD on Stellar and institutions like Mercado Bitcoin and RedSwan Digital Real Estate tokenizing assets on the network. That's real-world adoption, folks.
The Verdict: Will the ETF Boost XLM?
Here's my take: The Hashdex ETF inclusion is a positive for Stellar, no doubt. It opens the door to institutional money and validates Stellar's place in the crypto ecosystem. But ETFs don't guarantee instant riches. XLM needs to hold that $0.35 support level. If it does, the ETF exposure, combined with Stellar's growing ecosystem, could fuel a recovery. But if $0.35 fails, brace for a potential dip to $0.30.
It's a waiting game, but Stellar's got some interesting cards to play. So, grab your popcorn, keep an eye on that $0.35 level, and let's see if the Hashdex ETF can give XLM the boost it needs. After all, who doesn't love a good underdog story?
