XLM gains 1.45% toward $0.20 after USDT0 launches on Stellar

  • XLM gained 1.45% as its price moved toward the $0.20 level.
  • XLM traded between $0.1854 and $0.1964, with 87.09 million total trades.
  • Stellar Development Foundation announced USDT0’s arrival on September 2.

XLM rose 1.45% toward $0.20, extending its recovery from an August low near $0.155, while approaching a resistance area that has capped advances in July and the second half of August. The Stellar Development Foundation announced on September 2 that Tether’s USDT0 had launched on Stellar, allowing people and businesses to use USDT liquidity for international payments, transfers between financial applications and company settlements. USDT0 uses a common supply supported by USDT rather than separate token pools for each network, adding to Stellar’s stablecoin options alongside UDSC and PYUSD. XLM is mainly used for transaction charges and account maintenance, so the effect of greater stablecoin activity on demand for the token remains uncertain. XLM traded at $0.1903, within a session range of $0.1854 to $0.1964, with total trades reaching 87.09 million. A sustained move above $0.20 could put $0.21 and $0.22 in focus, while rejection could return the price toward $0.18 or trading areas near $0.16 seen in August.

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