Stellar's XLM token saw a solid 2.23% price increase over the past 24 hours to $0.1148 per token. This comes after a period of decline for XLM, with the token dropping 3.69% over the past week and 6.57% over the past month. However, zooming out shows a positive long-term trend, with XLM up 26.12% over the past 6 months.
With a current market capitalization of $3.18 billion, Stellar remains one of the top 20 cryptocurrencies by market cap. Trading volume over the past 24 hours hit $45.37 million, showing there is still significant interest in trading the token.
What's Behind Stellar's Recent Volatility?
Stellar has seen some choppy price action recently, with the token swinging between gains and losses over different time frames. This volatility can likely be attributed to a few key factors: