Key Insights
- Stellar futures open interest increased by 4.63% to $376.97 million, reflecting stronger trader confidence and anticipation of continued price gains.
- Bitget leads with 26.3% of total open interest, while Binance and Bybit follow, showing concentrated bullish momentum across major exchanges.
- Stellar trades at $0.4113 with an RSI of 57.82, suggesting potential upside toward $0.50 if trading activity and volume continue to improve.
Stellar (XLM) experienced a notable rise in value, with its price increasing by more than 3.5 percent within 24 hours, and subsequently climbing to a daily gain of 5.03% at $0.4113. The digital asset briefly touched a peak of $0.4141, indicating the possibility of additional growth if buying strength continues.
At the same time, Stellar futures open interest grew by 4.63% according to CoinGlass data. This increase reflects a higher number of traders keeping active contracts in the market. In total, 917.26 million XLM valued at $376.97 million are committed to futures positions, showing rising confidence among market participants.
Exchange Distribution of Positions
The distribution of open interest highlights Bitget as the leading exchange with 26.3 percent of the total. Bitget traders accounted for 240.97 million XLM worth $99.15 million. Binance followed with 23.2 percent valued at $87.46 million, while Bybit recorded 19.21 percent, amounting to $72.45 million. This distribution demonstrates that trading activity is spread across major global platforms, strengthening market depth.
The Relative Strength Index for Stellar stands at 57.82, signaling moderate momentum and room for upward movement before reaching overbought levels. Historical trends also favor September performance for the asset. Previous years, such as 2016, 2018, and 2022, recorded positive moves, increasing the likelihood of another strong run.
Market Conditions and Target Outlook
Despite strong futures activity, trading volume has dipped by 7.35 percent to $299.88 million, which poses a hurdle for immediate acceleration. However, if buyers step in with consistent support, Stellar could move toward the $0.50 mark. Sustained confidence from futures traders, combined with favorable technical conditions, strengthens the outlook for continued gains.
