XLM Surges 21% as Protocol 23 Upgrade Spurs $2.73B Trading Volume and DeFi Growth

Stellar (XLM) has experienced a 21.28% price increase over the last 24 hours, trading at $0.4685 on Binance, with the move attributed to heightened trader interest following the announcement of the upcoming Protocol 23 upgrade scheduled for August 14, 2025, which will enhance smart contract capabilities. Additional factors supporting the rally include a surge in institutional and DeFi activity, total value locked surpassing $100 million, a sharp rise in futures open interest to approximately $346 million, and increased network usage with notable gains in active addresses and transactions.

XLM’s current market environment is characterized by elevated trading volumes—reaching up to $2.73 billion in the last 24 hours—and a market capitalization exceeding $14 billion, reflecting strong investor participation and momentum following recent positive developments.