XLM Gains 3% Ahead of Upcoming Stellar Infrastructure Overhaul

Stellar Lumens Climbs 3% as Exchanges Prepare for Protocol 23 Upgrade

Stellar Lumens (XLM) advanced 3% over the past 24 hours, supported by heightened trading volumes and strong institutional activity, as South Korean exchanges temporarily paused services ahead of a major network upgrade.

From Sept. 1, 15:00 UTC to Sept. 2, 14:00 UTC, XLM traded in a volatile range between $0.36 and $0.36, reflecting approximately 5% intraday swings. The token found support around $0.35 following early selling before consolidating near $0.36. Resistance emerged near $0.37, where price encountered two rejections, yet volumes above the daily average of 31.2 million tokens pointed to continued institutional accumulation.

Momentum carried into the session’s final hour, with XLM climbing 2% from $0.36 to $0.37. A burst of volume totaling 2.7 million units at 14:00 UTC allowed the token to briefly surpass $0.37 before settling above $0.36, reinforcing the bullish 24-hour trend. Analysts note that sustained volume could support a further move beyond current resistance levels.

Protocol 23 and Market Impact
Bithumb and Upbit, two leading South Korean exchanges, will temporarily suspend XLM deposits and withdrawals starting Sept. 3, 09:00 UTC to accommodate Stellar Protocol 23, aimed at modernizing network infrastructure and boosting interoperability. The upgrade is expected to enhance Stellar’s utility for real-world assets, approximately $460 million of which are currently circulating on the network.

Technical Highlights

• Support established at $0.35 during early selling pressure.
• Consolidation in the $0.36–$0.36 zone indicates steady institutional buying.
• Resistance around $0.37 recorded dual rejections.
• Trading volumes exceeding the 24-hour average confirm institutional participation.
• Ascending channel formation suggests potential for further upside.
• A sustained break above $0.37 will likely require continued volume validation.

The combination of strong accumulation and network upgrades signals growing enterprise interest in Stellar, laying the groundwork for a potential continuation of the rally past $0.37.

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