Stellar Lumens Surges Amid Network Growth and Upcoming Upgrade
Stellar Lumens (XLM) has seen remarkable growth, nearly doubling its value since July.This surge comes amidst increased network activity and expectations of an imminent protocol upgrade.
Stellar price stands at $0.43 as of August 16, boasting a market cap surpassing $13 billion. Upward trends suggest potential climbs past $0.70.
technical charts reveal bullish patterns. A double-bottom formation around $0.2178 hints at further advances. Adding to this, a bullish pennant setup points to a considerable increase. With a projected 57% gain from the current mark, $0.7270 appears within reach.
Key milestones contribute to these optimistic forecasts:
- Transactions hit the 100 million mark.
- Total value locked in decentralized finance surged to $150 million.
- Nansen data shows a 11% growth in transactions over the past month.
Moreover,Stellar aims to simplify payments by reducing costs.Its stablecoin saw a 10% boost to $222 million in just 30 days.
The anticipated Protocol 23 upgrade in september includes optimizations for Soroban transactions and parallel processing. Historically, tokens rally ahead of such upgrades, bolstering hopes for continued gains.
