• 18 June, 2024

Stellar’s Q2 Triumph: Pioneering Blockchain Scaling and Boosting XLM Value

The Stellar Development Foundation (SDF) has marked an exceptional second quarter in 2023, showcasing substantial advancements on its strategic roadmap centered around the growth exponent of utility. With a firm focus on making innovation easy and scalable, winning over builders, and emphasizing utility to build trust, SDF has achieved impressive milestones.

Among the key highlights, the Soroban development has been a top priority, and SDF is steadily approaching the mainnet launch. Preview releases 9 and 10 introduced essential features, such as Soroban fee support, metering & limits, state expiration, and validator-configurable settings. This makes Stellar the first network to implement state expiration, resolving the long-standing issue of state bloat that hampered blockchain scaling across the industry.

Hubble, the data governance platform, made significant strides in self-service capabilities during Q2. Additionally, the Stellar Anchor Platform announced support for Deposit & Withdrawal services (SEP-24), streamlining on and off-ramp services on Stellar and reducing development time and costs for projects built on the network.

Stellar (XLM) is currently ranked 20th among cryptocurrencies based on market capitalization. As of the given data, the price of XLM is $0.1675 USD, and it has experienced a significant price increase of 20.88% in the last 24 hours. The 24-hour trading volume is $1,051,153,844 USD, indicating an active trading activity for the coin.

Source: CoinMarketCap

Stellar’s market capitalization stands at $4,555,214,237 USD, which reflects the total value of all XLM coins in circulation. It is essential to keep in mind that market capitalization is subject to change due to price fluctuations.

Over the last 24 hours, Stellar’s price has been quite volatile, with a low of $0.1358 USD and a high of $0.1793 USD. This level of volatility suggests active trading and the potential for both gains and losses.

Technical analysis of the XLM price suggests that there is an uptrend forming and that the coin could see further gains in the near term. However, it is important to recognize that cryptocurrencies are unpredictable and any potential gains may be short-lived. Investors should practice caution when investing in cryptocurrency.

In conclusion, the Stellar Development Foundation made significant progress in Q2 2023 on its strategic roadmap, which could have a positive impact on the XLM price. Technical analysis of the coin suggests that there is an uptrend forming and potential for further gains. However, investors should practice caution when investing in cryptocurrency. 

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