XLM Climbs 3.5% on U.S. Bancorp Stablecoin Testing

Stellar's native cryptocurrency, XLM, posted notable gains on Tuesday, climbing 3.5 percent to trade around 0.2508 amid heightened trading activity and positive developments in the network's ecosystem. The rally, which built on a 10 percent increase over the prior two days, pushed the token above key resistance levels and reflected growing interest from institutional players.

The advance accelerated following reports that U.S. Bancorp, the fifth-largest bank in the United States by assets, has chosen Stellar's blockchain for testing institutional stablecoins. This selection, announced earlier in the week, coincided with a surge in trading volume that exceeded averages by 45 percent, reaching 38 million tokens on Monday alone. Overnight activity further amplified the momentum, with a 70.4 million token surge that was 94 percent above the 24-hour norm, helping to solidify support near 0.244.

Compounding the bullish signals, Stellar's total value locked (TVL) reached a new all-time high of 169.3 million on Tuesday, according to data from DeFiLlama. This milestone indicates rising engagement in the network, as more users deposit assets into XLM-based protocols. On-chain metrics...