With stubcoins, active addresses and other metrics increasing, Stellar may be preparing for a breakout.
Stellar (XLM) shows signs of strength in both decentralized finance and technology. On Friday, April 11th, the chain’s market capitalization broke $300 million, reaching its all-time high of $3.6 million. At the same time, according to Nansen, active addresses on the chain have risen to 1.5 million, an increase of 6.5 times since April 7th.
Starry Stupid Market Cap | Source: Defilama
This is happening as token prices approach critical technical levels. On April 11, Stellar rose 5.33% from its daily low of 0.02252. This followed a bouncing off the lower edge of the descending channel, which began to form in December.
#XLM BXLM – 1D Chart
XLM just stopped the channel low
Change in momentum
Watch midline play, breakout may go vertical pic.twitter.com/bgspsuiqyt– Crypto Target (@cryptotarget11) April 11, 2025
In Stellar, defending this support, the token shows signs of momentum changing. Plus, if the token can stay above the midline at $0.2348, it could continue to have a more bullish momentum.
Why Stellar’s activities are rising rapidly
Stellar’s momentum has been slowly building up over the past few weeks. On April 6, before the increase in active addresses, Stellar rose 24% in the number of transactions from the previous week to 70.5 million. That figure also rose 30% per month.
Nansen’s recent report highlights several important technical improvements. For one, the Protocol 22 upgrade, launched last December, introduced extensions for both users and developers. We have enabled ZK-Snarks to make smart contracts faster and more private. Additionally, the upgrade makes it easier to launch Dapps.
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Other rollouts, including Galexie and The Stellar RPC, have made the network more transparent and its data more accessible. Galexie focuses on block explorer and historical data in analysis, while Stellar RPC supports real-time data used in Defi applications.
The network has also secured major partnerships such as Stripe, MasterCard and Paxos. For example, Stripe enabled payments on XLM, and Paxos launched USD Stablecoin on the Stellar Network.
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