Stellar (XLM) joined the broader crypto market sell‑off, plunging 22.9% in 24 hours to $0.2924, according to CoinMarketCap data.
During the steep decline, XLM briefly crashed to around $0.20 before rebounding sharply as buying pressure surged.
The token’s market cap fell to $9.36 billion, while 24‑hour trading volume spiked 157% to $630 million, showing intense activity from both panic sellers and opportunistic buyers. The rapid dip below $0.25 likely triggered large‑scale liquidations and stop‑loss cascades, a pattern seen across multiple major altcoins on Friday.
XLM’s swift rebound back toward the $0.29–$0.30 range indicates strong demand at lower levels and algorithmic trading stabilization after the crash. However, analysts caution that volatility remains high, with potential retests of $0.25 if Bitcoin fails to recover above key psychological support near $110,000.
For now, Stellar is attempting to regain footing, but sentiment remains fragile as investors await clearer signals of market stabilization following what has been one of the sharpest single‑day corrections of the year.