Stellar Price Surges 12% as Open Interest Hits $261 Million

The Stellar (XLM) price surged by over 12% in the last 24 hours, outperforming the broader crypto market. This rally comes as Open Interest hits $261 million.

The increase in derivatives activity is a clear sign that new capital is entering the market and traders are increasing exposure to XLM. Rising open interest is generally viewed as a positive indicator of growing market participation and strengthening bullish sentiment.

Funding rates have also shifted in favor of bulls, with XLM's funding rate reaching 0.0061% on Tuesday. Positive funding rates indicate that long-position holders are willing to pay a premium to maintain bullish bets, often reflecting growing confidence in higher prices.