XLM Surges 11.76% After Stellar Core Upgrade and BitMEX Listing, Trading Volume Tops $2.4 Billion

Stellar (XLMUSDT) experienced an 11.76% price increase over the past 24 hours, rising from 0.4497 to 0.5026 on Binance. This surge is primarily attributed to heightened trading activity following the recent release of Stellar Core v23.0.0rc2, which improved network performance and contributed to a 27% rally earlier in the week. Additional factors include the listing of XLMUSDT perpetual swaps on BitMEX, which expanded leveraged trading opportunities, and increased attention from analysts highlighting Stellar’s growth potential in the DeFi sector. Despite a brief market-wide correction and a decrease in futures open interest from $520 million to $495 million, strong trading volumes and renewed investor interest have supported the upward momentum.

Currently, XLMUSDT trades at 0.5026 with a 24-hour trading volume exceeding $2.4 billion, a market capitalization of approximately $14.90 billion, and a circulating supply of 31.09 billion tokens, reflecting robust market activity and continued volatility.