XLM crypto price breaks out as key DeFi metric hits all-time high

Key Points

1. Stellar Lumens (XLM) rose to $0.30, its highest level since May 23, marking a 35% increase from its June low.

2. Stellar's TVL (Total Value Locked) has surged from $50 million at the start of the year to over $543 million, including Franklin Templeton’s tokenized fund.

3. The supply of USD Coin (USDC) on the Stellar network has increased to $172 million, and EURC has risen to $1.85 million, signaling growing utility.

4. Stellar’s futures open interest reached $246 million, the highest since January, indicating strong demand, while spot volume jumped to nearly $927 million, mostly on Binance and Bitget.

5. Technical analysis shows XLM forming a double-bottom pattern at $0.2170, with the price now above key moving averages, suggesting potential further gains to $0.3323 or even $0.4247.