- Stellar network nears 100 million transactions and Protocol 23 update.
- XLM price surged 97% recently.
- Upgrade aims to boost scalability via Soroban smart contracts.
Stellar Lumens (XLM) is close to a breakout as transactions near 100 million and Protocol 23 targets enhanced scalability and smart contracts. The price surged 97% since July, supported by bullish technical patterns and rising network activities.
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The nearing transaction milestone and Protocol 23 upgrade could catalyze further engagement from decentralized finance (DeFi) projects, potentially influencing XLM’s price and broader market dynamics.
Stellar Lumens is positioned for a notable price surge as it nears 100 million transactions. This achievement comes ahead of Protocol 23’s planned enhancements. Stellar Development Foundation’s roadmap emphasizes scalability and smart contract capabilities.
XLM’s price and market cap are experiencing significant growth. The protocol upgrade is expected to attract new projects utilizing Soroban smart contracts. While institutional inflow is unclear, XLM adoption is on the rise.
“As we actively push towards the Protocol 23 upgrade, our focus remains on enhancing scalability and expanding Soroban smart contract usability to drive further adoption in the Stellar ecosystem.” — Denelle Dixon, CEO & Executive Director, Stellar Development Foundation
Market impacts include a surge in activity, and potential implications are broad. The upgrade reinforces Stellar’s strategic emphasis on growing its DeFi ecosystem, positioning XLM for further gains.
Stellar’s upgrade history shows precedents of price and network increases following protocol updates. With XLM price doubling recently, market sentiment remains optimistic. The DeFi expansion could influence broader cryptocurrency dynamics.
Focusing on financial, regulatory, and technological landscapes reveals prospective growth for Stellar’s ecosystem. Enhanced scalability and smart contract integration are expected to drive innovation in decentralized applications and services.
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