XLM Surges 30% as Stellar Transactions Rise 14% and Bullish Pattern Emerges

Stellar (XLM) is gaining renewed attention from investors as the network continues to demonstrate robust growth in activity and user adoption. Over the past 30 days, Stellar transactions have surged by 14%, reaching $81.2 million in value, according to Nansen [1]. Simultaneously, active addresses on the network increased by 81% to 515,000, and network fees jumped 120% to $201,000. These metrics suggest a growing interest in the protocol, driven in part by its low-cost and high-speed transaction capabilities.

Alongside the surge in transaction volume, the total value locked (TVL) on the Stellar network has risen to $139.5 million, signaling increased participation in staking and liquidity provision activities [1]. The growing utility of Stellar's stablecoin ecosystem is also evident. Data from Artemis shows that Stellar’s stablecoin supply has grown by 21.6% in the last 30 days to $209.4 million. The number of transactions has also climbed by 17% to $9.8 million, with adjusted transaction volume rising 22% to $1.9 billion [1].

Notably, Stellar has attracted strategic partnerships that reinforce its position in global payments. PayPal has announced plans to integrate its stablecoin, PYUSD, onto the Stellar Network to support real-world payments and microfinancing [1]. Additionally, Mastercard has partnered with Stellar to streamline cross-border crypto payments through its Crypto Credential framework. The initiative uses identifiers like email addresses and automates compliance checks, making it easier for users to engage with the blockchain [1].

From a technical analysis perspective, XLM has formed a bullish falling wedge pattern on the daily chart, suggesting potential for a breakout to $0.5183, which would represent a 30% increase from its current price of $0.3918 [1]. This pattern is supported by a double-bottom formation at $0.2177 and a golden cross pattern observed on July 13. If XLM breaks above $0.5183, further gains could push the price toward $0.6365, implying a 61% rise from current levels.

The upcoming Protocol 23 upgrade, set to go live on August 26, is another potential catalyst for XLM’s price action. The upgrade is expected to enhance smart contract efficiency, token functionality, and overall scalability [1]. These improvements could further attract developers and institutional interest, supporting long-term growth.

Source: [1] XLM Eyes 30% Rally as Stellar Transactions Jump 14% and Rare Pattern Emerges (https://coinmarketcap.com/community/articles/68934b7ceb2f700e7db85b23/)