Stellar's XLM surged 6% to $0.3880, leading the top 20 cryptocurrencies by market cap. This increase follows the announcement that PayPal plans to launch its stablecoin, PayPal USD (PYUSD), on Stellar's network, pending regulatory approval. Ian Burrill, a PayPal Senior Director, highlighted Stellar's capabilities for low-cost and fast transactions, enhancing PYUSD's accessibility in over 180 countries. The integration aims to improve cross-border payments and provide users with better financing tools. Stellar’s infrastructure is expected to support PYUSD's availability globally, with potential liquidity benefits through an emerging financing mechanism called PayFi. The significant price fluctuation of XLM occurred within a 24-hour period, showcasing its volatility as it moved within a $0.071 range. Trading activity peaked during early morning hours, establishing strong technical support levels. PayPal's collaboration with Stellar marks a meaningful step in promoting blockchain utility for financial services and emerging market businesses.

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