Stellar’s XLM Token Rallies 4% Amid Increased Institutional Activity
Stellar’s XLM token experienced a 4% increase from $0.37 to $0.38 within 23 hours on September 8-9, driven by substantial institutional interest. Key points include:
- Trading volume peaked at 90.25 million tokens, exceeding the 24-hour average.
- Resistance identified at $0.39 as corporate accounts consolidate positions.
- $0.38–$0.39 range noted as an accumulation zone for institutions.
- Low-volatility trading occurred between 10:57 and 11:56 on September 9, with stability crucial for corporate treasurers.
- Technical indicators, including golden cross patterns, enhanced token credibility among institutional investors.
Paxos has filed to issue a USDH stablecoin on Stellar's infrastructure, targeting Hyperliquid’s corporate clients, reinforcing Stellar’s regulatory framework. The GENIUS Act has faced criticism but is viewed by corporate legal teams as a step towards clarity in blockchain strategies.
Technical metrics:
- Golden cross indicates potential long-term institutional accumulation.
- Trading volume increased by 85% to $333.21 million, reflecting institutional market engagement.
- Price breakout above $0.38 met institutional risk management criteria.
- Support levels established at $0.37-$0.38 for defined risk parameters.
- Consolidation phase suggests possible upcoming corporate adoption announcements.
- Resistance at $0.39 requires further institutional buying pressure for progress.
