Stellar Lumens is showing significant growth, reaching $0.43 since early August. Key factors supporting this success include network activity and upcoming upgrades.
Stellar Lumens Market
Since July, Stellar Lumens has risen by 97%, resulting in a market capitalization exceeding $13 billion. Technical indicators and the increasing network activity support expectations for further gains. The three-day chart shows a double-bottom pattern, which typically signals a potential bullish continuation.
Growth of the Stellar Ecosystem
The Stellar ecosystem demonstrates accelerating activity, surpassing 100 million smart contract transactions and a record total value locked of $150 million in decentralized finance. In the past month, transactions increased by 11%, while active addresses grew by 49%.
Protocol 23 Upgrade
The upcoming Stellar Protocol 23 upgrade, scheduled for September, will introduce parallel transaction execution and optimization for Soroban smart contracts. These changes aim to improve scalability and performance across the network.
In conclusion, Stellar Lumens continues to show steady growth due to technical factors and active ecosystem development. Upcoming upgrades may also contribute to further price increases.
