XLM Price Nears $10 | Community Divided on Future Strategies
A vocal segment within the Stellar community is adamant that XLM tokens should be sold when prices exceed $10. This sentiment is contrasted by a growing skepticism regarding the token’s practical use and market viability as it approaches this critical threshold.
The Case for Holding Tight
Many community supporters advocate for holding, waiting for XLM to reach prices between $100 and $200. "I’m not selling until $100-$200," asserted one member, fueling optimism among other investors who encourage a strategy of "DCA and hold!"
Voices of Skepticism Arise
Critics are quick to raise concerns. One commenter pointed out the current utility of XLM, stating, "XLM is an awesome blockchain but you’re crazy if you think you’re going to get rich off of it." This aligns with a broader conversation about XLM's practical applications versus speculative investments.
Recent comments have added more perspectives, notably from a user who noted, "Franklin Templeton has been utilizing PYUSD on Ethereum and Solana since 2022," highlighting the lack of significant traction for crypto-native apps or tokens on Stellar.
Emerging Concerns Over Market Viability
Commentators question the market cap potential of XLM, with one stating, "Aren’t there like 10 billion XLM in existence?" This implies that a $10 price point would require an extraordinary market cap of $100 billion. Another pointed out the faltering real-world adoption of XLM, saying, "Stellar’s one significant RWA integration launched over four years ago," contrasting it with the growing RWA sector where Stellar appears to be losing market share.
Community Dynamics
Resistance Level: XLM shows tough resistance around .22 cents in recent months, suggesting established trading patterns.
Functionality vs. Speculation: Users recognize the effectiveness of XLM for cross-border transactions, but debate its adoption in real-world applications remains mixed. "XLM was designed to move money quickly and cheaply, and it’s doing that right now," one commenter asserted.
Subjective Value Perspectives: Diverse opinions emerge on what underpins crypto valuations, with thoughts shared on BTC’s speculative push versus XLM's potential to solve real-world problems.
"You hold a small stack to fund trust lines and pay for network usage - period."
Key Insights from Ongoing Debate
△ A growing faction believes XLM should be sold for at least $10.
▽ Skepticism grows around reaching a $10 valuation given current market limits.
※ "XLM is designed to move money quickly and cheaply" - reaffirming the token’s intended purpose.
As discussions evolve, the future direction of XLM’s price may depend on the community's confidence amidst a shifting market landscape. Will the divide between optimists and skeptics impact momentum moving forward?