XRP Coin's Favorite Rival is Moving
Stellar (XLM) Coin
Following massive liquidations in futures, interest in altcoins is weakening. Trading volume in Stellar's derivatives market is $31.04 million, and volume has dropped 52 percent in the last 24 hours. According to on-chain data, derivative volume reached its annual peak of $78.18 million on March 12, and then began to gradually decline. Now it is at its lowest level since May 1.
If the volume in futures is decreasing, the interest of professional investors is weakening. In this case, the loss in price may continue. Moreover, since the lack of interest in the futures side may also weaken liquidity in the spot market, sharper declines may be triggered in the sales of investors who have lost faith in the rise.
The main indicator reflecting investor interest is the RSI, which is in the 36.31 region. So XLM Coin has now reached the oversold threshold. This value, which is determined between 100 and 0, indicates overbought above 70 and oversold below 30.
