- Stellar’s Total Value Locked hits record with over 400 million XLM.
- XLM price struggles to maintain $0.34 support as market faces pressure.
- Stellar’s smart contract activity exceeds 1 million daily invocations.
Stellar (XLM) is facing a pivotal moment as its price tests a crucial support level around $0.34. This point could determine the future direction of cryptocurrency. If the price remains above $0.34, a potential rise toward $0.50 could be on the horizon.
However, if the price fails to hold, further declines may be possible. Traders closely monitor this situation, and they are awaiting a breakout or breakdown in the coming weeks.
Despite price fluctuations, Stellar’s ecosystem is showing strong growth in other areas, particularly in its Total Value Locked (TVL).
Stellar’s Record-Breaking TVL Growth
In September, Stellar’s Total Value Locked (TVL) surged to a new high, with over 400 million XLM locked in various protocols. This marks a significant milestone, doubling the TVL from the previous quarter. Data from DeFiLlama indicates that despite the 30% drop in XLM’s price since the beginning of the quarter, the amount of XLM locked in protocols has continued to rise.
This growth reflects a firm commitment from the Stellar community and signals increasing trust in the ecosystem. However, when measured in USD, the TVL remained stable at around $140 million, as market fluctuations have not significantly impacted the total amount of XLM locked.
Surge in Smart Contract Activity
Smart contract activity on the Stellar network sharply increased in September, reaching over 1 million daily invocations. This growth clearly indicates rising developer interest and the broader adoption of Stellar’s platform for real-world applications, including payments, decentralized finance (DeFi), and integration with traditional financial systems.
The rise in smart contract activity highlights the network’s capacity to handle higher transaction volumes. It also reinforces Stellar’s evolving role in the decentralized finance sector, demonstrating its potential for expanding use cases and attracting new users and developers.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
