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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Stellar Network Processes 1.8 Billion Transactions, Was 2021 Its Best Year Ever?

Reynaldo Marquez
Reynaldo Marquez
3 years ago
2 mins read
Stellar

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The Stellar Development Foundation (SDF) has published the end-of-year metrics for their ecosystem and the underlying network. Presented by Denelle Dixon, Executive Director, and CEO at the SDF, the metrics showed a significant increase across the board.

Related Reading | How Stellar Will Host Ukraine’s CBDC Pilot Test With Tascombank

In 2021, per the report by the SDF, the Stellar Network experienced a 32% rise in its number of total accounts with respect to 2020. The number of total accounts stands at 6 million.

On the other hand, the Stellar Network has processed over 1.8 billion total operations. This represents a 127% increased since 2020. The total assets available on this ledger have risen from 8,639 to 90,297 which represents a 945% increase over the same period.

The SDF claims the rise over these metrics suggests there is a growing interest in the Stellar Network. In that sense, they added the following while showing more data on “relevant assets”:

It’s not just about raw network growth. We track growth in relevant assets – assets tethered to real financial instruments – and relevant asset transactions. Since the start of 2021, we’ve seen 11% of relevant assets, and a 2.3x increase in daily transaction volume of these assets.

Stellar XLM XLMUSDT
Source: SDF via Twitter

As a consequence, the Stellar ecosystem has expanded. The SDF records over 10 new anchors coming into the network during this year. This represents a 33% increase since 2020.

The anchor services for this network stand at 30, as shown in the image below. Most of these entities are spread across the globe with a significant percentage in North America, Latin America, and Africa.

Stellar XLM XLMUSDT
Source: SDF via Twitter

2021 The Year Of Important Partnerships For Stellar

In 2021, the SDF saw the deployment of stablecoin USD Coin (USDC) on the Stellar Network. Managed by the Centre consortium, created by Coinbase and Circle, the USDC is one of the most important digital assets to transact in the crypto space.

This was one of Stellar most important partnerships this year, the ecosystem was leveraged by MoneyGram and other major companies. In addition, the SDF’s Enterprise Fund invested over $74 million in projects for companies, such as AirTM, Tala, and Wyre.

The community was a big part of this year’s progress for Stellar, as reported by the SDF. This organization worked with over 50 universities and thousands of students everywhere for hackathons and other activities.

The initiative Stellar Quest welcomed new developers for this ecosystem and generated over 2,700, per the report. In that, the Stellar Community Fund was also a great success which granted over $4 million in the XLM token to be used for developing DeFi, NFTs, and many more use cases on this network.

The SDF celebrated a “tremendous” 2021 and presented its strategic objectives for 2022. This includes increasing Stellar’s network capacity and innovation, increasing the level of participation, and “demanding and promoting diversity and inclusion”.

Related Reading | Stellar To Power VISA’s New Partnership, XLM Begins Breakout

As of press time, XLM trades at $0,28 with a 1.2% profit in the last 24-hours.

Stellar XLM XLMUSDT
XLM moving sideways in the 4-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

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

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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