Oh, what a spectacle we have here! Stellar (XLM) has quite outdone itself, hasn’t it? The price has leapt by a rather impressive 10% in the last hour, sending a tidal wave of liquidation crashing over the market. A staggering 6,253% liquidations, you say? My, my, one can only imagine the short position traders’ faces as they watched their investments vanish like so much mist in the morning sun. 😂
XLM Liquidation: A Comedy of Errors for Short-Position Traders
According to the ever-reliable CoinGlass data, within the last hour, traders who had the audacity to bet short on Stellar found themselves $160,090 lighter. The price surge was as sudden as a surprise guest at a cocktail party, and the broader crypto market, ever the gracious host, offered a slight upward nod in response.
At the time of writing, Stellar’s price was trading at $0.2884, a 13.98% increase over the last 24 hours. The asset had peaked at $0.2881, a move that suggested a sustained rally, much like a well-rehearsed performance. The volume, too, is soaring, a clear sign that the audience is thoroughly entertained.
Investor activities have pushed XLM’s volume up by 46.05% to a rather impressive $373.65 million. If the current bullish signals persist, we might just see a breakout that would make even the most jaded market observer sit up and take notice. Meanwhile, long position traders, not to be outdone, also had their fair share of losses, shedding a modest $2,560 within the same one-hour time frame. Oh, the drama! 🎭
What’s Fueling Stellar’s Breakout? A Dash of Innovation and a Pinch of Sentiment
The current bullish movement in XLM may well be attributed to the release of Stellar Core v23.0.0rc2. This rather substantive release is designed to introduce a new Core Advancement Proposal to the network. Though not fully live yet, it has already managed to spark an 8% price increase. The XLM price is riding this wave of sentiment, shaping its current price outlook with all the grace of a seasoned performer.
Interestingly, before this price movement, Stellar had been in a bit of a holding pattern, with a delayed golden cross suggesting possible ongoing consolidation. But, as they say, patience is a virtue, and the delay has certainly paid off, with a significant climb in price. Meanwhile, its rival, XRP, has only managed a 3.88% price increase, a clear sign that the two cross-border payment assets are beginning to decouple. 🚀
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2025-07-09 18:31