XLM Surges 14% on Protocol 23 Smart Contract Upgrade, $445M Treasury Tokenization Boosts Momentum

Stellar (XLM) has experienced a significant price increase in the last 24 hours, with the XLMUSDT pair on Binance rising 14.44% from an open of 0.3802 to a current price of 0.4351. This surge is primarily attributed to the announcement and upcoming implementation of the "Protocol 23" upgrade, which will introduce smart contracts and improve network scalability, driving heightened investor interest. Additional momentum comes from increased institutional adoption, notably Franklin Templeton's tokenization of over $445 million in U.S. Treasuries on the Stellar network, and record-high DeFi total value locked on the platform. Technical indicators have shown bullish patterns, though some caution is noted due to overbought RSI levels and short trade signals from certain analysts.

In the past 24 hours, XLM has seen robust trading activity, with reported volumes exceeding $2.18 billion and a price range between approximately $0.38 and $0.44. Market capitalization is estimated between $11.84 billion and $13.44 billion, with a circulating supply of about 31 billion XLM out of a total 50 billion.