- 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)
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.
