Stellar’s native Token XLM came under heavy institutional sales pressure in the latest trade session and fell from $ 0.39 to $ 0.36 between August 28 at 1 p.m. 15:00 and 29 August at. 14:00 one. Market data shows more than 41.89 million XLM changed hands, with volumes of waves as large holders reduced the exposure.
Despite the pressure, Stellar’s Enterprise Push remains intact. The Stellar Development Foundation reported that the network is approaching 10 million registered accounts increased with a daily growth of 5,000-6,000 new company’s wallets. Strategic partnerships with Moneygram International and Circle Internet Financial continue to operate the adoption of Stellar’s payment rails in cross -border funding.
Analysts highlighted sharp intraday swings on August 29, when XLM fell 1.38% between 7 p.m. 13:26 and 14.06, before institutional buyers reinstated the market. Token restored 1.27% during the 15-minute window that followed, the session closed at $ 0.361 after a brief touch of $ 0.357.
A spokesperson close to Stellar’s business strategy emphasized that market turbulence was the mood drive rather than a reflection of businessmen. The end of the session suggested that some large buyers saw the fall as a purchase opportunity, which emphasized confidence in Stellar’s long-term role in blockchain-based financial infrastructure.
Technical market indicators signalize mixed business mood
- XLM published a decrease of 7.74% from $ 0.39 to $ 0.36 during the trade period 28 to 22 August.
- The daily trading area reached $ 0.031 between the session high at $ 0.387 and low at $ 0.356.
- The maximum sales activity occurred during the European trade hours on August 29 with volume, exceeding the 24-hour average of 41.89 million units.
- Technical resistance established near $ 0.373 level as institutional buyers remained cautious.
- Support levels identified at $ 0.375 and $ 0.362, with the lower threshold showing stability in the final trade times.
- Elevated trade volume during the fall indicates potential institutional accumulation strategies.
- Intraday Price Class of $ 0.005 In the last 60-minute trading period, still showing market interest.
- Support for $ 0.357 attracted institutional purchase interest before session closely.
- The last hour recovery of 1.27% on volume exceeding 2 million units suggests that corporate contact departments may accumulate positions.
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