Analysis: Stellar network upgrade triggers price fluctuations, XLM intraday increase reaches 14.3%

ChainCatcher news, according to CoinDesk, the price of Stellar Lumens (XLM) rose by as much as 14.3% in 24 hours, climbing from $0.252 to $0.293, and ultimately closing at $0.2896. This increase was accompanied by a surge in trading volume, peaking at 405.9 million coins, which is 7.5 times the average daily trading volume.

The price rise was mainly driven by the release of Stellar Core v23.0.0rc2, which enhances the network's maturity and scalability. Technical analysis shows that XLM has broken through resistance levels of $0.270 and $0.278, with short-term support established above $0.278.