Stellar Price Drops 5.3% Amidst Surge in Altcoin Deposits
Stellar's price has dropped by 5.3% to around $0.214 on October 3, 2026, with no bad news about the project itself. The reason behind the decline lies in the market situation, according to CryptoQuant's analysis. The number of altcoin deposits to trading venues has climbed 160% within two weeks, to the highest level since October 2025. This surge in deposits is often a sign of selling pressure, as it indicates that holders are willing to hand control over their coins to a trading venue, which often precedes a sale.
The data from CryptoQuant shows that the number of addresses from which deposits originated has tripled, from 17,600 to around 51,600. This suggests that the decline is not just due to a single large sale, but rather a broad round of profit taking. The fact that 16 of the 21 largest cryptocurrencies by market value are down over 24 hours, with 11 of them performing worse than Bitcoin, supports this interpretation. The median of all 21 lies at minus 2.2%, with Stellar being the second-weakest name in the field, only behind Rain.
Stellar's price has been 21.0% up over 30 days, and it appears that the coin is giving back some of its gains. The 200-day average is the mean of the closing prices of the past 200 trading days, and where a price sits above it, the majority of those who bought in that period have a gain on paper. On the CryptoQuant analysis, 87% of altcoins stood above their 200-day average at the end of September, which is a significant indicator of profit taking.