🚨 Before the vote on the 23rd, XLM bulls all pulled back
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Stellar’s Protocol 30 upgrade, codenamed Bell, cleared its testnet vote on November 3. Validators are scheduled to vote on the mainnet version on November 23.
The upgrade includes three changes: enabling smart contracts to distinguish between payments to different customers, allowing contracts to verify post-quantum signatures (the network’s own signatures remain unchanged), and switching ledger timing to millisecond precision. The team also acknowledges that this last change alone won’t make blocks faster.
Normally, news of an upgrade like this should push prices up. It didn’t.
XLM surged to $0.171 on the 4th, but fell back the next afternoon. Since then, it has been hovering between $0.153 and $0.157, currently around $0.155.
The indicators are hesitant, too: the RSI is 45.2, below its signal line; the ADX is around 18.5, indicating a weak trend, with sellers holding only a slight edge.
The derivatives market is even more telling—open interest fell from about $94 million to $88 million and now stands at $89.5 million; the funding rate is just 0.0011%, virtually at zero.
What’s really worth noting isn’t that the “upgrade = bullish” formula has failed, but that the market is pricing in uncertainty before pricing in the event. The 23rd isn’t the final launch date: if validators don’t approve it, the vote gets pushed back, and wallets, exchanges, and nodes will all need to update their software.
For now, the key level to watch is $0.16: holding above it would mean getting in ahead of the vote; failing to break above it means waiting for the vote.
Do you think this upgrade will replay the “nothing before the vote, then a wild surge after approval” script? Let’s talk in the comments 👇
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#XLM #公链 #CryptoMarket
Group: 邀请您加入我的群组 悟空粉丝群
Stellar’s Protocol 30 upgrade, codenamed Bell, cleared its testnet vote on November 3. Validators are scheduled to vote on the mainnet version on November 23.
The upgrade includes three changes: enabling smart contracts to distinguish between payments to different customers, allowing contracts to verify post-quantum signatures (the network’s own signatures remain unchanged), and switching ledger timing to millisecond precision. The team also acknowledges that this last change alone won’t make blocks faster.
Normally, news of an upgrade like this should push prices up. It didn’t.
XLM surged to $0.171 on the 4th, but fell back the next afternoon. Since then, it has been hovering between $0.153 and $0.157, currently around $0.155.
The indicators are hesitant, too: the RSI is 45.2, below its signal line; the ADX is around 18.5, indicating a weak trend, with sellers holding only a slight edge.
The derivatives market is even more telling—open interest fell from about $94 million to $88 million and now stands at $89.5 million; the funding rate is just 0.0011%, virtually at zero.
What’s really worth noting isn’t that the “upgrade = bullish” formula has failed, but that the market is pricing in uncertainty before pricing in the event. The 23rd isn’t the final launch date: if validators don’t approve it, the vote gets pushed back, and wallets, exchanges, and nodes will all need to update their software.
For now, the key level to watch is $0.16: holding above it would mean getting in ahead of the vote; failing to break above it means waiting for the vote.
Do you think this upgrade will replay the “nothing before the vote, then a wild surge after approval” script? Let’s talk in the comments 👇
Tap my profile picture to watch the livestream + join my fan group for daily strategies 🚀
#XLM #公链 #CryptoMarket
