
Stellar (XLM) Soars 100% in This Crucial Metric - Uncover the Insights
Stellar shows great recovery potential, following key surge on-chain[...]
Stellar Shines Bright: On-Chain Metrics Point to Bullish Potential
Amidst the crypto landscape, Stellar has quietly been making waves, with a noteworthy on-chain performance milestone that may set the stage for a future price spike. One of the network's most crucial operational metrics, the daily transaction count, has surged by a remarkable 100% in the last month, soaring from approximately one million to well over three million transactions on average.
This remarkable growth on the Stellar blockchain reflects real-world activity. The ecosystem currently supports over 336,000 assets, with a staggering 8.8 billion total accounts, and processes a remarkable 7.9 million operations daily. Even though its price action may not seem particularly impressive at first glance, Stellar is far from dormant, with a thriving ecosystem and growing utility, including the integration of 1.44 million DEX trades in the last 24 hours.
With a market valuation of almost $8 billion and a 24-hour trading volume of slightly over $240 million, Stellar (XLM) is currently trading at around $0.25. Despite the asset trading below the 50 and 200 EMA, two key moving averages, the network's surging activity suggests a bullish divergence. Historically, a surge in on-chain usage has often preceded or coincided with price expansion, particularly when technical indicators do not fully reflect the underlying picture.
While XLM is still in a consolidation zone, charting indicators are starting to show signs of bottoming out. The RSI is at around 44, indicating potential for an upward move without entering overbought territory. Additionally, the price is approaching a zone that has provided steady support since April.
If the operational and transactional trends persist and begin to translate into investor sentiment, XLM could experience another rally towards the $0.30-$0.32 range. However, for any sustained breakout, confirmation above the 50 and 200 EMA will be necessary. In short, Stellar's blockchain is once again gaining significant traction, and the market is poised to take notice.