Stellar is Leader in Tokenization with Franklin Templeton, WisdomTree

• Stellar protocol is fast becoming prominent as an outfit for tokenizing assets.
• Since the launch of the Stellar-backed WTSY, over $300 million is now tokenized as digital funds.

Stellar (XLM) is currently leading the tokenization of assets in treasuries and digital funds according to a recent Reddit post. So far, over $300 million in tokenized digital funds have been issued on the blockchain by Franklin Templeton and WisdomTree.

Image via Reddit

Markedly, this comes only a few weeks after a prominent provider of exchange-traded funds (ETFs) and exchange-traded products WisdomTree launched WisdomTree Short-Term Treasury Digital Fund (WTSY) which utilizes the Stellar blockchain.

The Stellar native token XLM is doing well in the market and has had significant gains since Ripple Labs’ first major victory in its lawsuit with the United States Securities and Exchange Commission (SEC).

Like many other tokens listed previously in the SEC lawsuits against crypto exchanges Binance and Coinbase, XLM gained up to 53 percent after Judge Analisa Torres ruled that XRP is not security. The verdict hyped the growth of XLM as it shows Ripple did not violate any securities law when it sold the token to the public. As XRP surged in value, so did other cryptocurrencies including XLM whose price surge was second only to XRP.

Stellar Tokenization Boost: XLM Price Takes Giant Strides

Over the past week, Stellar has seen a major rally which topped 100 percent as the price hits a multi-year high as fueled by the tokenization and general Ripple verdict sentiment.

Consequently, the price growth led to increased investors’ activity and this provoked high levels of engagement in the Stellar ecosystem. At the time of this writing, Stellar was trading at $0.1271, after losing about 1.14 percent in the last 24 hours. For now, the token is still within its support level of $0.1253 despite the bearish gloom.

On the other hand, XLM’s market capitalization added as much as $1.3 billion, leaving the total market cap at $3.44 billion as of the time of writing. Based on this market cap, the Stellar protocol has solidified its position as one of the top tokens, with stability that can largely fuel trading activities on the protocol.

XLM has recently reached as high as $0.18 making investors very interested in the token and some of them are looking forward to when XLM will hit the $0.2 level. This enthusiasm may not be far-fetched especially if XLM keeps challenging the $1 level and Bitcoin (BTC) maintains its influence on the broader market riding on the sentiment surrounding its spot ETF potential.

Year-on-year, XLM has experienced a significant increase of 42 percent and this growth has positioned Stellar Lumens as an out-performer, exceeding 80 percent of the top 100 cryptocurrencies in terms of one-year returns. Also, its current market trading position shows a positive sentiment as the Stellar Lumens protocol is trading above the 200-day Moving Average which is considered a bullish indicator.

Out of the last 30 days, XLM has had 16 green days, and this indicates a majority of positive price movements at levels reaching 53 percent.

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