Veteran trader Peter Brandt says XRP rival Stellar Lumens (XLM) has incredible potential and could be the next altcoin to see significant price action.
Stellar Lumens (XLM) is the native cryptocurrency of the Stellar payment network, which aims to connect banks, financial institutions, payment systems and individuals for fast and secure cross-border transactions.
XLM is currently trading at about $0.095 at the time of writing, and it has gained nearly 50% in value since the end of last month. And according to Brandt, the 14th largest cryptocurrency by market cap may just be getting started.
Brandt, who gained fame in crypto circles for calling Bitcoin’s big collapse in January of 2018, also says he expects Ethereum and most altcoins to outpace BTC in the short term.
“Significant breakout in ETH/BTC with target of .03276. Most alts should gain on Bitcoin in near future.”
Last week, crypto YouTuber Nicholas Merten said he believed a new altcoin season had officially arrived after the collective market broke a key line of resistance against BTC.
But Binance CEO Changpeng Zhao says traders should not expect the entire altcoin market to rise without reason.
He says the next altcoin season will require coins to have shown real-world progress and sufficient use cases.
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