With the introduction of the Whisk upgrade, Stellar Lumens (XLM) shows positive dynamics, which could mean exciting changes ahead.
Whisk Upgrade and New Features
According to recent data, Stellar Lumens (XLM) is showing growth, with a price of $0.3672 as of September 3 following the implementation of the Whisk upgrade. This upgrade includes technologies such as parallel transaction processing, enhancing network throughput and reducing latency. Stellar aims to be one of the fastest blockchain platforms, which is especially important as transaction volumes increase. These improvements may attract more developers and users, further strengthening the network's long-term growth.
Growth of the Stellar Ecosystem
In recent months, Stellar has displayed impressive growth, with the total value locked (TVL) in the ecosystem reaching $140 million. This positions Stellar as one of the fastest developing blockchain networks, highlighting the effectiveness of its technological upgrades. There is also steady growth in the stablecoin supply within the network, now reaching $710 million, with a significant amount being controlled by tokenized assets from Franklin Templeton. These developments indicate increasing confidence in the Stellar ecosystem.
Technical Analysis of XLM
Technically, XLM is showing potential for a surge. The cryptocurrency has managed to hold above its 100-day Exponential Moving Average, suggesting a positive sentiment. XLM is also forming a falling wedge structure, which typically indicates an upward reversal in a downtrend. This trend is emerging following a robust price surge during the first half of the year when XLM climbed from a low of $0.2186 to a high of $0.5185.
The Whisk upgrade has introduced significant changes to the Stellar ecosystem, allowing XLM to show growth. Considering the current technical signals and increasing total value locked, XLM may continue to strengthen in the coming weeks.
