Stellar is allowed to be prepared for an outbreak, because Stablecoins, active addresses and other statistics increase.
Stellar (XLM) shows signs of strength, both in decentralized finances and in technicalities. On Friday, April 11, the Stablecoin market capitalization at the chain broke $ 300 millionAchieving a record high of $ 3.6 million. At the same time, active addresses on the chain rose to 1.5 million to 1.5 million 6.5-fold increase Since April 7.
This happens when the price of the token approaches the most important technical levels. On April 11, Stellar rose by 5.33% compared to his daily low of $ 0.02252. This followed on a bouncing of the bottom of a falling channel that began to form in December.
With Stellar who defends this support, it shows token drawing of shifting momentum. What is more, if the token succeeds in staying above the center line for $ 0.2348, more Bullish Momentum can follow.
Why Stellar’s activity is increasing
The momentum of Stellar has been slowly building in recent weeks. On April 6, before the increase in active addresses, Stellar rose by 24% in the transactional count of the week before and reached 70.5 million. That figure also increased by 30%every month.
A recent Report by Nansen highlights various important technical improvements. Firstly, the Protocol introduced 22 -upgrade, launched in December last year, improvements for both users and developers. It set ZK-Snarks, making smart contracts faster and more private. Moreover, the upgrade Dapps made it easier to launch.
Other rollouts, including Galexia and the Stellar RPC, have made the network more transparent and made data more accessible. Galexia focuses on historical data for blocking and analyzes, while Stellar RPC supports real-time data used in Defi applications.
The network also provided important partnerships, including with Stripe, Mastercard and Paxos. For example, Stripe has switched on payments with XLM, while Paxos launched his USD Stablecoin on the Stellar network.
