Stellar Surges 8.859% on Protocol 23 Upgrade and Institutional Adoption

Stellar's latest price was $0.3917, up 8.859% in the last 24 hours. The cryptocurrency has been making significant strides in the cryptocurrency world, with several key developments and upgrades that have caught the attention of investors and analysts alike. One of the most anticipated events is the upcoming Protocol 23 upgrade, scheduled for a vote on August 14, 2025. This upgrade aims to enhance transaction execution and state management on Soroban, Stellar’s smart contract platform, which is expected to boost the network’s performance and smart contract speed.

In addition to the protocol upgrade, Stellar has seen a surge in real-world use and institutional trust. Franklin Templeton recently tokenized $446 million in U.S. Treasuries on the Stellar blockchain, signaling growing confidence in the network’s stability and security. This move is part of a broader trend of institutional adoption, as more financial institutions recognize the benefits of Stellar’s fast and affordable transactions.

Stellar’s integration with major payment platforms like PayPal and MoneyGram has also contributed to its rising popularity. These partnerships have enabled faster and more affordable cross-border payments, reducing remittance costs, especially in emerging markets. The integration with PayPal, in particular, has sparked optimism among investors.

Stellar’s 2025 upgrades have introduced smart contract features that have opened doors for advanced financial applications. Developers are now building more dApps on Stellar, further increasing its utility. The Stellar Development Foundation supports these projects through grants, helping to grow a vibrant community of developers and users. This community support, combined with the network’s technical improvements, is expected to drive long-term growth and adoption.

On-chain data also shows that Stellar’s active addresses and transactions have been on the rise. Data compiled by Nansen indicates that Stellar’s active addresses jumped by 13% in the last seven days to 158,329, while transactions rose by 16% to 18.5 million. This increase in network activity suggests that more users are engaging with the Stellar ecosystem, contributing to its overall growth and development.

Stellar’s momentum is also evident in the growing stablecoin supply on its network. DeFi Llama’s update to its ecosystem stablecoins shows that the stablecoin supply in Stellar’s network jumped to a record high of $627 million, up from the year-to-date low of $44 million. This increase is partly due to the inclusion of the Franklin Onchain US Government Money Fund, which has over $446 million in its calculation. Excluding these assets, Stellar has $181 million in stablecoin supply, most of which are USD Coins.

Stellar has garnered significant attention due to a pivotal network enhancement. The Protocol 23 upgrade represents a major advancement for the platform, driving substantial optimism within the developer community and investor base. This upgrade focuses on introducing novel technical capabilities designed to improve the overall functionality and potential of the Stellar network, marking a key step in its ongoing evolution.

Another notable development involves the integration of significant traditional finance assets onto the Stellar blockchain. The Franklin Onchain US Government Money Fund has been incorporated, representing a substantial entry into the ecosystem with a reported $446 million. This integration contributes to a significant milestone, bringing the total stablecoin-related value within the Stellar network to a record high of $627 million. Excluding the Franklin fund, the stablecoin supply, predominantly composed of USD Coin (USDC), stands at $181 million, signifying continued utilization of Stellar for stable asset transfer.

Recent data indicates positive growth in network engagement and activity. Reports show the number of active addresses interacting with the Stellar network increased by 13% over the last seven days, reaching 158,329 active addresses. Concurrently, the total volume of transactions processed on the network rose by 16% during the same period, totaling 18.5 million transactions. These metrics suggest increased usage and activity within the Stellar ecosystem.

This surge in network activity and the significant integration of real-world assets like the Franklin fund coincides with a period of heightened interest in decentralized finance (DeFi) and blockchain infrastructure innovation, providing a broader context for the developments occurring on Stellar.