XLM Price Nears $0.20 as USDT0 Launches on Stellar Network

The price of XLM has risen to $0.1903, nearing its previous high at $0.20 after gaining 1.45% in the past trading session.

This increase follows the launch of Tether's USDT0 token on the Stellar network earlier this week, expanding the network's stablecoin offering and providing users with an alternative to other USD-backed and euro-backed coins like UDSC and PYUSD.

The USDT0 token allows for the transfer of funds between financial applications and company settlements, increasing activity on the Stellar network and potentially making XLM more popular among its peers.

However, experts warn that touching the $0.20 level may not be enough to suggest a room for a potential rally, as buyers will need to keep XLM above this level to confirm their expectations.