XLM Price Approaches $0.20 as USDT0 Launches on Stellar

The price of XLM has risen to $0.1903 after gaining 1.45% in value, bringing it closer to its target of $0.20.

This move is significant as it follows the launch of Tether's USDT0 token on Stellar earlier this week. The addition of USDT0 expands Stellar's stablecoin offering and provides users with more digital dollar options, including UDSC and PYUSD.

The introduction of USDT0 means that users do not need to hold XLM in order to send payments, but rather can use the stablecoin for transactions. This could lead to an increase in activity on the Stellar network and make XLM a more popular choice among its peers.

However, the price of XLM still faces resistance at the $0.20 level, which has previously stopped advances in July and August. If buyers are unable to sustain the price above this level, it could fall back down to around $0.18 or even lower to $0.16.