The CoinDesk Stellar Lumens Price Index (XLMX) is the world’s leading reference for the price of Stellar lumens (XLM), used by the largest institutions that are active in the crypto market. Asset allocators, asset managers, market participants and exchanges all rely on the XLMX to provide a real-time, USD-equivalent spot rate for Stellar lumens. The XLMX is one of a suite of single- and multi-asset indices offered by CoinDesk.*

To inquire about real-time feeds, historical data and benchmark licensing options for the CoinDesk Stellar Lumens Price Index (XLMX), other CoinDesk Indices products and custom index development, contact us via indices@coindesk.com or the form below.

The CoinDesk Stellar Lumens Price Index (XLMX) represents a real-time, USD-equivalent spot rate for Stellar lumens. The index value is algorithmically calculated once every second based on observed trading activity on leading exchanges, using the same methodology and infrastructure as the CoinDesk Bitcoin Price Index (XBX). In operation since 2014, the XBX is the benchmark for billions of dollars in assets under management and is the reference for hundreds of millions traded daily in the over-the-counter market.

The XLMX is designed as a reference rate that tracks liquidity while adjusting for deviations caused by anomalies and manipulation attempts at individual exchanges. While the precise formula underlying the index is proprietary, the key elements of the algorithm are outlined below.

Exchanges with greater liquidity receive a higher weighting in the index, increasing the ability to execute against the index in the underlying spot markets. Liquidity weighting also mitigates the impact of volume spikes during off-peak trading hours.

The index price reflects data points that are discretely weighted in proportion to their variance from the rest of the cohort. As the price at a particular exchange diverges from the rest of the data points, its influence on the index consequently decreases in real-time.

The algorithm penalizes stale ticks on any given exchange. If an exchange does not have recent trading data, its weighting is gradually reduced, until it is de-weighted entirely. Similarly, once activity resumes, the corresponding weighting for that constituent is gradually increased until it reaches the appropriate level.

For live prices and updates, visit TradeBlock, our index calculation agent subsidiary.

* These indices are products for financial institutions, and are separate from the prices that CoinDesk publishes on coindesk.com.