Aug 7 – The cryptocurrency Stellar Lumens (XLM) experienced a brief but dramatic price surge in early trading on August 7, highlighting the significant volatility that can occur in the digital asset market.
According to 1-day chart data, the price of XLM was trading steadily around the $0.40 mark before a sudden “flash spike” occurred at approximately 06:30 UTC. In a matter of moments, the price shot up to a session high of roughly $0.41 before immediately retracing to its previous level.
Such rapid price movements are often caused by low market liquidity or the execution of a single large buy order, which can temporarily exhaust the available sell orders at current prices.
Despite the early morning volatility, the market for XLM has since stabilized. As of 09:43 UTC, the price of Lumens was $0.4015, reflecting a modest gain of 0.21% for the day. This is slightly above the previous day’s closing price of $0.4006.
While the overall daily change remains minimal, the sharp spike serves as a reminder to traders of the unpredictable nature of cryptocurrency markets. Investors will be watching closely to see if the asset maintains its current stability or if further volatility is on the horizon.
