How Grayscale Holds XLM as the Price Drops More Than 50%
From its 2025 peak, Stellar (XLM) has fallen from $0.52 to $0.26. Grayscale — one in all the main crypto funding funds — has notably managed its XLM holdings throughout this downturn.
Extreme market concern at the finish of the yr continues to gas unfavourable expectations. What does Stellar (XLM) should face these headwinds?
Grayscale Holds More Than 116 Million XLM
According to the newest information from Coinglass, Grayscale’s XLM holdings elevated from final yr, earlier than XLM printed a “god candle” in November 2024 with practically 600% development.
Grayscale efficiently collected XLM from 70 million to 119 million forward of the rally. This transfer highlights the fund’s effectiveness as a smart-money participant that positioned itself earlier than main market swings.
However, since early 2025, the fund has stopped accumulating. XLM’s worth has stopped setting new highs and entered a downward pattern. Compared to the 2025 peak, Grayscale’s XLM holdings barely decreased to 116.8 million.
The fund’s refusal to promote aggressively displays its buyers’ long-term perspective. They seem to view XLM as a useful asset in the cross-border funds sector.
More notably, shares of Grayscale Stellar Lumens Trust (GXLM) commerce at a premium over its precise Net Asset Value (NAV).
GXLM’s market worth sits at $24.85, whereas its NAV per share is $22.29.
The market worth is about 10–15% larger than NAV. This premium signifies that buyers are keen to pay above the underlying asset worth. This situation has dominated most of the buying and selling periods in 2025.
However, when evaluating Grayscale’s XLM holdings to the more than 32 billion XLM circulating supply, the fund solely controls about 0.36% of the provide. This share stays too small to create any decisive affect on the market.
What Does Stellar (XLM) Have to Counter Selling Pressure?
November 2025 marked a pivotal second when seven main crypto gamers — Fireblocks, Solana Foundation, TON Foundation, Polygon Labs, Stellar Development Foundation, Mysten Labs, and Monad Foundation — officially launched the Blockchain Payments Consortium (BPC).
This alliance goals to advertise blockchain-based fee requirements. BPC focuses on cross-chain integration, enabling XLM to succeed in hundreds of thousands of customers throughout different ecosystems. These developments may increase demand in 2026.
“During Q3, the Stellar community noticed 37% development in full-time builders, 8 occasions sooner than the business development charge,” Stellar stated.
In parallel, the Stellar ecosystem continues to see explosive development in Real-World Assets (RWA). Total RWA worth on the community reached a document $654 million in November 2025, up from $300 million at the starting of the yr.
Charts from RWA.xyz present important contributions from tokenized funds, together with Franklin OnChain US Government Fund and WisdomTree Prime.
However, actual adoption tales don’t at all times align with market sentiment. Recent evaluation signifies that XLM has historically performed poorly in November. With altcoins drowning in extreme fear, XLM could battle to flee the broader unfavourable pattern.
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