XLM at $0.191: Binance Cuts OI 12%, Bybit Adds 2.8%

XLM slips to $0.191 while open interest keeps shrinking

XLM traded at $0.191 on Binance and OKX at the time of writing, down about 2.6% over the past 24 hours. The day range is narrow: a high near $0.2004 and a low around $0.1887 on both venues. The pullback looks orderly. Total open interest across major exchanges fell 4.7% to $169 million, so the move is being driven by position unwinding rather than fresh selling pressure.

Binance cuts leverage, Bybit and Hyperliquid quietly build

The interesting part is where the open interest went. Binance, the largest XLM venue, trimmed its positions by 12.2% in 24 hours, dropping to $33.6 million. That is a meaningful cut for a single day. Bybit went the other way, adding 2.8% to $32.5 million, and Hyperliquid added 1.4% to $13.9 million. Bitget and OKX both eased slightly. The net effect is a rotation: leverage is leaving the biggest exchange and rebuilding on secondary venues.

Funding stays positive even as the price drifts down

Funding rates did not follow the price lower. Binance shows 0.01% per 8 hours, Bybit 0.0086%, and Hyperliquid 0.00125%. All are positive, which means longs are still paying shorts a small fee. That combination, falling price with positive funding and shrinking open interest, usually points to leveraged longs exiting rather than new shorts piling in. It is a cooling process, not a short attack.

What this means for traders

For anyone watching XLM, the signal is mixed. The price slide is modest and orderly, and the liquidation picture is quiet, with under $1 million in XLM liquidations over 24 hours across major venues. The real tell is the venue split. When Binance sheds 12% of its book in one day while Bybit and Hyperliquid add, it often marks the end of a crowded long setup. If funding flips negative from here, that would suggest shorts are gaining control. If open interest stabilizes around $169M and price holds $0.188, the unwind may be close to done.

Data as of 21:30 Beijing time on August 25, 2026, covering Binance, OKX, Bybit, Hyperliquid, Bitget, Gate and other major exchanges.