3 months ago 2 min read

Despite Crypto Winter, Stellar (XLM) Reports 172% Increase in Payments


Key Ideas:

  • Total assets have increased by 73%, total assets have increased by 17%, and total operations have increased by 92% for XLM.
  • Relevant asset transactions have increased by 1.9 times in volume.
  • Midway through next year, Soroban, an incentive-driven testnet, will become live on the Mainnet.

Competitor to XRP, Stellar (XLM) has claimed a strong 172% increase in payments in 2022, among other encouraging numbers.

Denelle Dixon, the founder and CEO of Stellar, claims in a new blog post that the global payments network has been producing "astronomical" outcomes in 2022 despite the protracted crypto winter that has sparked much discussion about blockchain technology and cryptocurrency's utility.

Dixon makes a point of pointing out that Stellar expanded more quickly in just one quarter of the current year than it did in the entire year of 2021.

"We celebrated Stellar's achievement of 1 billion operations in just two quarters last year. In addition to passing another enormous milestone – more than 7 million accounts on the network – Stellar this year almost reached 1 billion operations in just one quarter! This exponential expansion is encouraging because it demonstrates how Stellar is being used to power global innovation, financial inclusivity, and real-world value."

Additionally, XLM showed increases in total assets of 73%, 17%, and 92%, as well as an increase in total operations processed.

Dixon asserts that the volume of transactions involving relevant assets has increased by 1.9 times, despite a decrease in the quantity of relevant assets on XLM as a result of a change in how they are measured.

The company said that smart contracts would be coming to the network earlier this year. Beginning in earnest, work was done on a new smart contract standard that incorporated all of the qualities (scalability, sensitivity, and a consistent developer's experience). On Futurenet, a testnet with incentives, Soroban is already operational, and it is planned to become live on Mainnet in the middle of 2019.

XLM is currently trading at $0.0718, down 2% over the previous day.

Daily pricing chart for Stellar
Price of Stellar on 1D Chart
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