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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

How Stellar’s Growth In Q1 2021 Could Foster Further Adoption

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Stellar Lumens XLM XLMUSDT

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Stellar Development Foundation (SDF) has issued its Q1 report. In an official post, the SDF reiterated the importance of its main strategic pillar around Stellar’s blockchain: usability, trust, adoption, and sustainable use cases.

In the past months, Stellar’s ecosystem has started growing on top of this vision according to the SDF. Data provided by the report indicates that the platform has seen a YoY increase in its total accounts standing at 11%.

The total number of operations processed on the network has increased by 100%. Similarly, payments have incremented and 160% with an 84% rise in “relevant assets” with a 29x number of on-network transaction volume made with them, according to the report.

Therefore, Stellar Network’s registered a grown in the number of “real financial instruments” using its platform as a solution. These assets are tethered to fiat currency 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 like Wyre, Cowrie Integrated System, and DSTOQ via the Enterprise Fund. Every new cooperation put Stellar closer to consolidate its pillar and it’s a new step towards mainstream adoption.

SDF’s Marketing team developed a new case study featuring DSTOQ, Stellar’s latest Enterprise Fund recipient. This case study highlights DSTOQ’s latest business results and features several customers speaking to how DSTOQ empowers them to attain financial freedom.

SDF and Circle’s partnership to launch stablecoin USD Coin (USDC) on Stellar marked an important milestone for this blockchain. As consortium CENTRE, the organization created by Circle and Coinbase to support USDC, seeks to be more independent from Ethereum, Stellar took a key role.

(…) pairing the world’s fastest-growing USD stablecoin with the world’s fastest-moving network. Businesses and individual users are now able to leverage USDC while taking advantage of Stellar’s low cost, speed, and security features.

As shown by recent data from Glassnode, stablecoins and their market cap increase are apparently correlated with cryptocurrencies’ performance. The more demand for these assets, the more institutions, and retail investors need them to enter the market, as seen below.

Stellar Lumens XLM
Source: Glassnode

XLM is trading at $0,60 with an 8.6% correction in the daily chart. In the weekly chart and monthly chart, XLM has good performance with 12.2% and 53% profits respectively.

Stellar XLM
XLM with moderate losses in the 24-hour chart. Source: XLMUSDT Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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