Mr.Arshman

06/16 17:59

Stellar rallies as rising OI and trading volume si

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$XLM is up 12% in the last 24 hours, outperforming the broader crypto market. The rally comes as Open Interest hits $261 million. Stellar’s $XLM attracted renewed buying interest on Tuesday after posting strong gains at the start of the week. $XLM surged over 11%, bringing the asset closer to key resistance levels that could determine the next phase of its price action. Supporting the rally are improving derivatives and on-chain metrics, including rising open interest, increasing trading volumes, and positive funding rates, all of which point to growing market participation and strengthening bullish sentiment. Data from CoinGlass shows a notable increase in derivatives activity for both cryptocurrencies. $XLM’s open interest climbed to $261 million. Rising open interest is generally viewed as a sign that new capital is entering the market and that traders are increasing exposure to the assets. The increase suggests investors are positioning for further upside as momentum improves across the broader crypto market. Funding rates have also shifted in favor of bulls. CoinGlass data shows that $XLM’s funding rate reached 0.0061% on Tuesday. Positive funding rates indicate that long-position holders are willing to pay a premium to maintain bullish bets, often reflecting growing confidence in higher prices. On-chain activity provides additional support for the bullish outlook. According to Santiment, Stellar’s trading volume is climbing to $879.25 million from just $153 million over the past few days. The sharp rise in activity suggests renewed investor interest in the $XLM ecosystem as prices recover from recent lows. $XLM is trading near $0.227 on Tuesday, maintaining a constructive technical setup after rebounding from last week’s correction. The token remains above a key support zone formed by the 61.8% Fibonacci retracem

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