- Stellar has doubled its daily transactions, showing strong growth and increased network use.
- Stellar’s rising activity could lead to a price rally if key resistance levels are broken.
Stellar (XLM) has quietly demonstrated strong signs of recovery, posting a remarkable 100% increase in a key on-chain metric that could foreshadow a renewed price rally. While the current price action may seem muted, the underlying network activity tells a much more promising story.
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Stellar’s Explosive Growth in Daily Transactions
Over the past month, Stellar’s daily transaction count has jumped from around one million to over three million on average—a clear signal that usage on the network is accelerating rapidly. This surge is not just a number on a screen; it reflects tangible growth in the ecosystem’s adoption and utility. Stellar currently supports more than 336,000 assets, with a staggering 8.8 billion total accounts and roughly 7.9 million operations processed daily.
One major driver of this activity is the increasing volume of decentralized exchange (DEX) trades on Stellar, which reached 1.44 million in the last 24 hours alone. This shows that Stellar’s platform remains actively used, especially for token swaps and asset transfers, despite the cryptocurrency trading below important moving averages like the 50 and 200 EMA.
Price and Technical Indicators Signal Possible Upside
Currently trading near $0.25, Stellar holds a market valuation close to $8 billion, with a daily trading volume exceeding $240 million. Although the price is still in a consolidation phase, technical signals suggest potential for upward movement. The Relative Strength Index (RSI) stands at about 44, indicating there is room for growth without pushing the asset into overbought territory.
Moreover, the price is nearing a support zone that has held firm since April, providing a solid foundation for a possible rally. Historically, spikes in on-chain activity like the current one have preceded price increases, often signaling bullish divergence when the charts alone don’t reveal the full picture.
What’s Next for Stellar?
If the surge in network operations and transactions continues and gains traction in investor sentiment, Stellar could see a rally pushing XLM toward the $0.30 to $0.32 range. However, for a sustained breakout, a decisive move above the 50 and 200 EMA resistance levels will be crucial.
In summary, Stellar’s blockchain is regaining momentum with growing real-world usage. The fundamental activity signals are in place, and now the market must catch up to reflect this growing adoption.
Stellar’s strong on-chain growth sets the stage for a potentially significant price move, making it one to watch closely in the coming weeks.
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