- Stellar Lumens (XLM) has rolled out its long-awaited Protocol 23 “Whisk” upgrade, introducing eight new Core Advancement Proposals.
- The network surged to $0.3677 following the upgrade, marking a 303.8% yearly gain.
- XLM is now on the fast-track list for potential mixed crypto ETF approval, alongside coins like XRP, LTC, and HBAR.
- Despite strong technical progress, on-chain signals show whale selling pressure, creating mixed sentiment.
- A daily close above $0.37 could open the path toward $0.50, though risks remain.
Stellar Unleashes Protocol 23 – A Major Glow-Up for XLM
Stellar Lumens (XLM) has officially launched Protocol 23, dubbed the Whisk upgrade, marking one of its most significant advancements to date. Activated at 5 PM UTC on September 3, 2025, the update introduces eight Core Advancement Proposals (CAPs), featuring:
- Reduced transaction latency
- Parallel execution for efficiency
- An expanded toolkit for developers building on-chain
This technical glow-up not only improves the chain’s speed and usability but also strengthens Stellar’s position as a major player in the real-world asset (RWA) tokenization market, which has now reached $24 billion in size.
Also Read: Stellar (XLM) Primed for Growth: 5 Key Drivers Supporting September Momentum
Stellar and the ETF Buzz – Could XLM Be Fast-Tracked?
Following the upgrade, Stellar Lumens surged to $0.3677, establishing a double daily top. The network, now valued at $11.62 billion, has posted a staggering 303.8% yearly increase, placing it in the same conversation as XRP, Litecoin (LTC), and Hedera (HBAR) — all contenders for exchange-traded funds (ETFs).
Recently, XLM was included in a shortlist of altcoins potentially fast-tracked for a mixed crypto ETF approval. Market voices, including Galaxy Capital, suggest XLM could soon feature in a Coinbase Derivatives-based ETF, even if a standalone spot ETF remains uncertain.
If successful, this ETF inclusion could provide a major liquidity boost for Stellar and accelerate adoption.
Conflicted On-Chain Signals Stall XLM’s Momentum
Despite the bullish backdrop, whale activity tells a different story. Large investors have been offloading XLM tokens, as reflected in the Chaikin Money Flow (CMF), which remains in negative territory.
On the brighter side, bulls defended the $0.35 support level at the start of September, helping XLM reclaim the middle-tier Bollinger Band (BOLL). Currently, technical indicators show:
- Parabolic SAR flashing a buy signal around $0.36
- Relative Strength Index (RSI) remaining neutral, suggesting indecision
- A key test at $0.37 resistance – a breakout could drive prices toward $0.50
Failure to hold this momentum, however, could see sellers regaining control in the short term.
Can Stellar Reach $0.50 Soon?
Stellar Lumens stands at a pivotal moment, with technical innovation and ETF speculation fueling optimism. However, conflicting whale activity and neutral momentum indicators leave the market at a crossroads.
If XLM manages a daily close above $0.37, the path to $0.50 becomes increasingly likely. Traders and long-term holders will be closely watching both ETF developments and on-chain activity to gauge the next big move.