A noteworthy on-chain performance milestone was quietly posted by Stellar, which may be setting the stage for a future price spike. One of the most important operational metrics for the network, Stellar’s daily transaction count has increased by 100% in the last month from approximately one million to well over three million on average.
This growth on the chain is more than just a bunch of numbers. It reflects actual activity: the ecosystem currently supports over 336,000 assets, with over 8. 8 billion total accounts and Stellar processes over 7.9 million operations daily. Even though its price action may not seem particularly impressive, at first glance Stellar is clearly far from dormant given its level of adoption and utility, especially with the integration of DEX trades (1.44 million in the last 24 hours).
With a market valuation of almost $8 billion and a 24-hour trading volume of slightly over $240 million, Stellar (XLM) is currently trading at about $0.25. Even though the asset is presently trading below the 50 and 200 EMA, two important moving averages, network activity still suggests a bullish divergence. A surge in on-chain usage has historically preceded or coincided with price expansion, particularly when technical indicators do not keep pace with the underlying picture.
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Although XLM is still in a consolidation zone, from a charting standpoint, bottoming out indicators are starting to appear. The RSI is at ~44, which indicates that there is potential for an upward move without going into overbought territory. Additionally, the price is getting close to a zone that has provided steady support since April.
If the operations and transactional trend persist and eventually begin to show in investor sentiment, XLM might experience another rally toward the $0.30-$0.32 range. For any sustained breakout, though, confirmation above the 50 and 200 EMA will be necessary. To put it briefly, Stellar’s blockchain is once again becoming very popular. The market only needs to catch up now.
