Stellar price bounces as DeFi growth and user activity surge
The stellar can prepare for a break, because stablecoins, active addresses and other metrics are increasing.
Stellar (XLM) shows signs of strength, both in decentralized finance and in techniques. Friday, April 11, the market capitalization of the stablescoin on the channel broken $ 300 millionreaching a summit of $ 3.6 million. At the same time, the addresses active on the chain reached 1.5 million according to Nansen, a Increase of 6.5 times Since April 7.
This happens as the price of the token approaches key technical levels. On April 11, Stellar increased by 5.33% compared to its daily hollow of $ 0.022,252. This followed a rebound from the lower end of a descending channel which began to train in December.
With a stellar defending this support, the token shows signs of momentum. In addition, if the token manages to stay above the midline at $ 0.2348, a more optimistic momentum can follow.
Why Stellar’s activity increases
Stellar’s momentum has slowly built in recent weeks. On April 6, before the increase in active addresses, Stellar increased by 24% Transaction account Since the previous week, reaching 70.5 million. This figure also increased by 30% on a monthly basis.
A recent Report by Nansen highlights several key technical improvements. On the one hand, the upgrading of protocol 22, launched in December of last year, has introduced improvements for users and developers. It allowed ZK-Snarks, which makes intelligent contracts faster and more private. In addition, the upgrade made the DAPPs easier to throw.
Other deployments, including Galexie and the STELLAD RPC, have made the network more transparent and its data more accessible. Galexie focuses on historical data for block explorers and analyzes, while the RPC stellar supports real -time data used in DEFI applications.
The network has also obtained major partnerships, notably with Stripe, Mastercard and Paxos. For example, Stripe allowed payments with XLM, while Paxos launched its Stablecoin USD on the stellar network.
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