XLM OI Rises to $148M: MEXC +15.8%, Hyperliquid -10.6%

XLM slides with the market but keeps its range

XLM traded at $0.1758 as of 13:46 Beijing time, down 1.99% over 24 hours on Binance, with OKX quoting $0.17575 for the same change. The pullback is part of a wider red tape: Bitcoin fell to $76,689 (-1.9%), Ethereum to $2,422 (-2.5%) and Solana to $100.3 (-3.8%). What stands out is where the coin stopped. The 24-hour range ran from $0.1726 to $0.1794, and the price is sitting closer to the middle than to the low, holding above the $0.172-0.173 zone that has supported it through this dip.

Open interest rose while the tape turned red

Aggregate futures open interest came to $148.1 million, up 1.2% in 24 hours. That is a modest build, but the direction matters: OI rose while spot fell, which points to new leveraged entries rather than fresh exits. The composition is less uniform. MEXC, the venue with the most aggressive build, added 15.8% of its positions over the day and now holds $19.5 million, a 13.2% share. Binance added a smaller 2.1%, keeping its $31.0 million top position at a 20.9% share. Bybit trimmed 2.5% to $24.9 million, Bitget cut 2.1% to $21.0 million and OKX shed 3.2% to $8.3 million. The sharpest drop came from Hyperliquid, which cut 10.6% and now sits at $10.9 million, a 7.4% share.

What the venue split says about positioning

Funding tells the other half of the story. The open-interest weighted rate is still positive at roughly 0.008% per 8 hours, and the rate is positive on every major venue, including Binance at 0.0069% and OKX at 0.01%. Positive funding with rising OI usually means longs are paying to hold, so this is not a short-squeeze setup and there is no crowd of leveraged shorts waiting to be run over. The rotation instead looks like one group of traders moving exposure between venues. Money left Hyperliquid and, to a smaller degree, OKX and Bybit, then landed on MEXC and Binance. For a coin where one exchange now books over a fifth of all contracts, that concentration is worth watching. If the price loses the $0.1726 low from this session, the freshly added MEXC positions become the most exposed layer, and unwind risk is higher than the modest 1.2% OI gain suggests. If Bitcoin stabilizes near current levels instead, the same build gives the token room to retest $0.179 and the top of its 24-hour range.

Data as of 13:46 Beijing time on September 2, 2026, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget, MEXC and other major exchanges.