Stellar’s XLM Surges Over 50% Following Major Partnership Announcement
- XLM rallied by over 51% this week, reaching a peak of $0.224.
- The surge followed the announcement that DTCC will integrate its tokenized securities platform with the Stellar Network, targeting a launch in early 2027.
- Short liquidations for XLM reached $12.41 million since May, amplifying the price increase due to forced buying from bearish traders.
- XLM’s open interest nearly doubled to $292.11 million during this period, indicating increased trading activity.
- Current trading is near significant long-term resistance levels between $0.198 and $0.224, which could signal potential pullbacks.
The recent partnership with DTCC is a pivotal development for Stellar as it seeks to enhance its market presence through institutional collaborations and tokenization strategies.
With XLM up over **51%** this week, the price is now testing critical resistance levels that could influence future movements significantly.(Source)
