Alright, gather ’round, folks! This week, Stellar Lumens (thatâs XLM to you insiders) hit $0.20âa âcritical supportâ level. In Brooklyn, weâd call this a shanda! Thirty percentâthirty!âbelow the peak in May and down 60% for the year. If this was the stock market, my uncle Murray would be hiding in his bathroom with a brisket for comfort. Oy vey!
Market bears are swarming like a nosy mother-in-law: reports say funding rates have nosedived into negative territory since June. If support breaks, the rumors are XLM could tumble down to $0.15. Thatâs a 35% dropâor as they call it in crypto, âTuesday.â
Network Activity is Up! (But Price, Not So MuchâŠ)
Meanwhile, over on the Stellar network, business is booming: Artemis says 197 million operations happened in June. Thatâs more activity than my cousinâs wedding buffet. Stablecoin supply is at a record $667 million. Mazel tov to them!
More good news nobody cares about: tokenized real-world assets hit $487 million, thanks to wild new innovations like the Franklin OnChain US Government Money Market Fund. The ecosystem is hotâlike a pastrami sandwich straight from Katzâs. But the market? As cold as my Aunt Ruthâs stare when youâre late for dinner.
Funding Rates: Down, Down, Even Lower!
If youâre holding onto XLM futuresâfirst of all, why?âthe funding rates have been negative almost every day since May. Short traders are paying long traders just to stay in the game. The last time I paid for something that pointless was my gym membership.
Funding rates hit the lowest since June 30. In crypto speak, thatâs like your landlord knocking while youâre already behind on rent. Data from Coinalyze shows this misery is hitting all the major exchanges, mostly for stablecoin-margined pairs. The shorts are laughing, the longs are schvitzing.
Nansen reports a spike in transactions to 182 million in a week and active addresses up 10% to 146,700. Look at Stellar work those numbers harder than a Borscht Belt comedian!
Sadly, the price refuses to laugh. XLM fell under its 50-day and 100-day Exponential Moving Averagesâdonât worry, nobody at my high school reunion knows what those are either. Momentum is on the side of the short sellers and my chiropractor (from all this neck craning at red charts).
Some optimists whisper, âMaybe a short squeeze will save us!â Heyâif my Uncle Saul can win at bingo, anythingâs possible, right?
The daily chart is flashing a descending triangle patternâtranslation: a big, fat warning sign. $0.21 is the support line, like Aprilâs lows when every altcoin had a panic attack. Now weâre below the big, tough 60% Fibonacci retracement zone, where supposedly things âbounce.â Sure. My mattress bounces too, but I donât sleep any better.
If this triangle breaks, the trading bots hit the button and poofâoff to $0.15 quicker than you can say, âOy gevalt!â Fundamentals may be strong, but the technicals look nervous. Watch that $0.21 levelâif it holds, maybe XLM survives another day. If not? Well, itâs gonna be a bumpy ride. Buckle up, buttercup! đ„Żđ
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2025-07-07 16:23