The Stellar Development Foundation (SDF) has published its Q1 report. In an official post, the SDF reiterated the importance of its most important strategic pillar in relation to Stellar’s blockchain: usability, trust, acceptance and sustainable use cases.
In the past few months, the Stellar ecosystem has begun to build on that vision, according to SDF. The data included in the report shows that the platform saw its total accounts increase by 11% year over year.
The total number of operations being processed on the network has increased by 100%. Similarly, payments have increased, climbing 160%, with the number of “relevant assets” increasing 84% and transaction volume on the network increasing 29x, the report said.
As a result, Stellar Network saw an increase in the number of “real financial instruments” with its platform as a solution. These assets are tied to fiat currencies or stocks in the traditional market.
Stellar enables bull run in the crypto market
In addition, the Stellar Development Foundation managed to invest a total of $ 6.5 million in companies such as Wyre, Cowrie Integrated System and DSTOQ through the Enterprise Fund. Each new collaboration brings Stellar closer to consolidating its pillar and is a new step towards mainstream adoption.
The SDF marketing team developed a new case study with DSTOQ, Stellar’s newest recipient of the Enterprise Fund. This case study sheds light on DSTOQ’s latest business results and shows several clients speaking about how DSTOQ enables them to achieve financial freedom.
SDF and Circle’s partnership to launch Stablecoin USD Coin (USDC) on Stellar was an important milestone for this blockchain. When the consortium CENTER, the organization founded by Circle and Coinbase to support USDC, wanted to be more independent from Ethereum, Stellar took on a key role.
(…) Combination of the world’s fastest growing USD stablecoin with the fastest moving network in the world. Businesses and individual users can now take advantage of USDC while taking advantage of Stellar’s low cost, speed and security features.
As recent data from Glassnode shows, stable coins and their increase in market capitalization obviously correlate with the performance of cryptocurrencies. The more demand there is for these assets, the more institutions and private investors need them to enter the market (see below).
XLM is trading at $ 0.60 with a correction of 8.6% on the daily chart. In the weekly and monthly charts, XLM shows a good performance with gains of 12.2% and 53% respectively.
XLM with moderate losses in the 24-hour chart. Source: XLMUSDT Tradingview