- Stellar’s TVL increased by 1.56% in the past 24 hours, showing growing interest in its DeFi ecosystem.
- XLM’s price rose 3.74%, reflecting strong momentum driven by DeFi adoption and rising trading volume.
- Institutional partnerships with PayPal and Visa are strengthening Stellar’s real-world use case and boosting investor confidence.
Stellar (XLM) is experiencing a noticeable surge in its price and overall activity, primarily driven by a rise in decentralized finance (DeFi) adoption. Over the past 24 hours, the coin has seen a significant uptick in its total value locked (TVL) in DeFi protocols, with approximately 400 million XLM now staked by investors. This growth indicates that Stellar’s DeFi ecosystem is beginning to capture more user interest and liquidity.
Data from DeFiLlama highlights a 1.56% increase in Stellar’s TVL within the last day, bringing its fiat value to around $143.35 million. As more assets are locked into Stellar’s DeFi protocols, the network’s attractiveness continues to grow, reflecting a shift in investor confidence. With trading volume climbing 61.9% to $184.2 million, XLM’s bullish momentum is becoming more apparent, suggesting that the asset is on a steady path toward further gains.
Price Growth and Increased Trading Volume
Currently priced at $0.3658, XLM has seen a 3.74% price increase in the past 24 hours. Despite briefly reaching a peak of $0.3708, the price has corrected slightly but remains poised for further upward movement. Analysts are optimistic that Stellar could be on track for additional growth, with a clear target of $1 if the momentum continues, especially after its recent volume surge. If XLM can surpass the $0.40 resistance level, it may trigger more bullish activity, driving the price even higher.
Stellar’s price outlook has also been positively influenced by increasing institutional interest. Partnerships with major companies like Visa and PayPal have bolstered its role in cross-border payments and DeFi. These collaborations demonstrate growing recognition of Stellar’s capabilities within the traditional financial sector. As Stellar prepares to enter October, a historically bullish period for cryptocurrencies, the market anticipates increased capital inflows, which could fuel further price growth.
