- Stellar processes 10x more daily transactions than Ethereum, fueled by efficient design, near-zero fees, and real-world use.
- XLM surged from $0.1599 to $0.6395 before a 7.03% pullback, with Fibonacci levels at $0.5263 and $0.3997 offering key support.
- Jed McCaleb highlights Stellar’s real-world adoption, advanced features, and user-friendly tools driving global financial inclusion.
Jed McCaleb, the co-founder of Stellar, stated on X, formerly Twitter, that Stellar network is currently one of the busiest cryptocurrency networks, processing more transactions every day than the majority of others. According to him, it handles ten times as much activity as Ethereum. He attributes the increasing popularity of Stellar to its usefulness, speed, and ease of use for developers.
Real-World Applications and Advanced Features Boost Adoption
McCaleb highlighted Stellar’s native features, including a built-in decentralized exchange (DEX), token issuance, and robust on-chain governance. Additionally, the network supports stablecoins and smart contracts optimized for safety, concurrency, and sustainability.
Unlike many other blockchains, Stellar offers near-zero fees due to its efficient design. This makes it an ideal platform for global payments and financial inclusion. Businesses and individuals worldwide increasingly use Stellar for seamless cross-border transactions.
Notably, the engineering quality and developer documentation stand out as top-tier, simplifying integration for developers. Furthermore, Stellar prioritizes user experience with features like passkey support and native multi-signature capabilities. These innovations make it easier for users and businesses to adopt the technology.
Stellar’s Price Action Reflects Bullish Sentiment
Significant volatility has lately been observed in the Binance XLM/USDT pair. It had a strong bullish trend, rising from $0.1599 to $0.6395. However, the price retraced to $0.5590, indicating a 7.03% fall, after reaching a peak of $0.6200.
Source: CryptoRank
The Fibonacci retracement reveals key levels for traders to monitor. The 0.236 retracement at $0.5263 serves as immediate support, while $0.3997 and $0.3431 correspond to deeper support zones. Additionally, RSI readings at 79.18 indicate overbought conditions, suggesting a cooling period for the asset.
Despite the retracement, the sustained bullish candles leading to the peak and increased trading volume signal strong market interest. For more gains, traders must clear the price’s resistance, which is close to $0.6375.
Function of Stellar in Financial Infrastructure
Stellar’s emphasis on effective, practical payments places it in a leadership position in blockchain finance as the use of cryptocurrencies increases. McCaleb expressed confidence in its potential to reshape global financial systems. With its advanced features and consistent growth, Stellar continues to gain attention as a major player in the blockchain space.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
