Stellar's XLM token saw a 0.92% price drop over the past 24 hours, with the price decreasing from $0.1149 to $0.1139. Though a less than 1% daily change may seem insignificant, analyzing the broader trends and metrics provides valuable insights into Stellar's current positioning and potential outlook.
Overall, Stellar remains in a downtrend across most timeframes. The cryptocurrency's market capitalization stands at $3.16 billion, with $31.57 million worth of XLM changing hands in the past day.
Looking first at the 1-hour timeframe, XLM dropped 0.33% over the past 60 minutes. This indicates some minor near-term selling pressure, though the move was relatively muted.
Zooming out to the daily view, the 0.92% decline today extends the downward trajectory seen over the past week. XLM has dropped 4.37% over the past 7 days. However, the losses have been slower compared to the 8.53% drop seen over the past month.