Grayscale’s XLM Fund (GXLM) Skyrockets 335%: Intriguing Price Surge Unveiled

  • Grayscale’s XLM fund’s share price skyrocketed by over 150% in a single day.
  • The fund, which trades under the code GXLM, saw its share price rise from $12.25 to $32.59 within a few hours.
  • Despite a slight drop, the fund closed the day with a 100% increase at $24.10.

Grayscale’s XLM fund, an investment company that invests in XLM and is listed on the OTC Markets, saw its share price soar as markets opened today. The share price of the fund, which trades under the code GXLM, rose by 166% within a few hours, from $12.25 to $32.59. Although it experienced a slight drop afterward, it closed the day with a 100% increase at $24.10.

Stellar Performance for Grayscale’s XLM Fund (GXLM)

GLXM Price Chart 1D

Interestingly, the price of XLM on cryptocurrency exchanges did not show any significant change during the same period. XLM gained 0.23% in value compared to yesterday, trading at $0.0917. The GXLM fund is currently priced at three times the underlying asset, XLM.

Grayscale has not yet made any statements regarding the matter. The fund in question was launched in January 2019 and currently has $6.6 million worth of assets under management. Its historical performance has been quite volatile. The share price dropped to $3 levels in 2020, only to reach $95 in October 2021.

As a cryptocurrency editor, it’s essential to keep an eye on the performance of various funds and assets in the market. Grayscale’s XLM fund’s recent performance is a prime example of the volatility and potential gains that can be experienced in the cryptocurrency space. Investors should always be cautious and well-informed before making any investment decisions.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin Price Pressure: Liquidation Intensities Surge Below $92,000 and Above $97,000

On December 23rd, COINOTAG reported critical data from **Coinglass**...

Bitcoin Price Plunge Leads to $25 Million in Positions Liquidated

$25M in Positions Liquidated as Bitcoin Price Dips Below...

Crypto.com Launches Custody Trust Company for Regulated Digital Asset Services in the U.S. and Canada

In a significant move for the digital asset landscape,...

Cryptocurrency Market Faces Significant Price Decline as Bitcoin, ETH, and XRP Drop Below Crucial Support Levels

Bitcoin, ETH, and XRP Prices Plummet Below Key Support...

Pendle Team Transfers 625,000 PENDLE Tokens Worth $3.15 Million to Binance

On December 23, 2023, COINOTAG reported significant activity in...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img