Stellar drops the craved-for Protocol 23, dubbed as ‘Whisk’ upgrade: will XLM nail an ETF spot?
Stellar Lumens (XLM) unleashes the Whisk (Protocol 23) key chain upgrade, which is cooking up quite a few highly-anticipated advanced features. For one, Stellar Lumens chain debuts Protocol 23 with eight Core Advancement Proposals (CAPs), touching upon lower latency, parallel executions & a new toolkit for on-chain builders.
After going live at 5PM UTC on September 3, 2025, the OG altcoin soared to $0.3677, establishing a double daily top, which was retested today. The $11.62 billion worth Stellar Lumens (XLM) network saw a 303.8% upswing in yearly terms, putting XLM in the same category with HBAR, LTC & XRP, all mulled for exchange-traded funds (ETFs).
A few days back, Stellar Lumens (XLM) was included in the short list of altcoins that are potentially suitable for a fast-track mixed crypto ETF approval. Will the fast-track ETF help Stellar (XLM) reach for the stars? Time will tell, but market heavyweights like Galaxy Capital see XLM as qualified for a Coinbase Derivatives-based ETF, despite having no solo Spot ETF.
Conflicted On-Chain Signals Stall Stellar’s Bull Run
Stellar (XLM) recently made the first entrance into a $24 billion Real World Asset (RWA) market, solidifying the chain’s technical demand. However, crypto whale movements have painted a very different picture. Last week was filled with large investors selling off their XLM tokens, as the Chaikin Money Flow (CMF) dwelled in the negative zone since last Friday.
This trend has started shifting on September 1, 2025, as crypto bulls have managed to build a stronger presence at the $0.35 support level. Right now, XLM’s price is breaking through the middle-tier Bollinger Band (BOLL), but a daily close above $0.37 would substantially boost the odds of XLM’s $0.50 retrieval.
Conversely, the previously-mentioned CMF meter is back in negative territory, implying that large XLM holders are back in selling mode. On the other hand, the Parabolic SAR meter flashes a ‘buy’ signal at $0.36, which implies market indecision. This is well reflected in the neutral Relative Strength Index (RSI) as Friday’s altcoin pullback doesn’t spare XLM.
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