Stellar Slides Late Amid Institutional Activity
Stellar Lumens (XLM) experienced a 5% intraday swing on October 16, moving between $0.32 and $0.33. After early-session weakness, institutional buying drove a midday rebound, but late-session selling pushed the token below $0.32, breaking key support levels.
The session coincided with a major institutional milestone: WisdomTree launched Europe’s first physically-backed Stellar Lumens ETP, now trading on the Swiss SIX and Euronext exchanges. The product provides regulated exposure to XLM, signaling rising corporate interest despite short-term price swings.
Competition in the digital payments space is intensifying. Emerging players like Digitap are challenging incumbents such as Stellar and Ripple, reshaping the enterprise blockchain payments landscape.
Market Highlights
- Intraday range: $0.32–$0.33, a 5% swing
- Support: $0.32, showing repeated institutional buying
- Resistance: $0.33, marking midday highs
- Volume spikes: 73.74 million during morning rebound; 0.97 million at 13:31–13:32
- Session close: low volume, indicating liquidity constraints and confirming late-session breakdown
Overall, Stellar’s session reflects a market balancing profit-taking, institutional adoption, and competitive pressures, as XLM navigates volatility in the evolving blockchain payments ecosystem.
