Stellar Development Foundation (SDF) has released 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 recent months, the Stellar ecosystem has grown on top of this vision, according to the SDF. Data provided by the report indicates that the platform has seen a YoY increase in the total number of accounts of 11%.
The total number of operations processed on the network has increased by 100%. Likewise, payments are up 160% with an 84% increase in “relevant assets” with a 29x the number of network transactions made with it, the report said.
Therefore, Stellar Network registered a growth in the number of “real financial instruments” using its platform as a solution. These assets are linked 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 through the Enterprise Fund in companies such as Wyre, Cowrie Integrated System and DSTOQ. Each new partnership brings Stellar closer to consolidating its pillar and is another step towards widespread adoption.
The SDF marketing team developed a new case study with DSTOQ, the latest recipient of Stellar’s Enterprise Fund. This case study highlights DSTOQ’s latest business results and shows several clients how DSTOQ enables them to achieve financial freedom.
SDF and Circle’s partnership to launch stablecoin USD Coin (USDC) on Stellar marked an important milestone for this blockchain. As the consortium CENTER, the organization founded by Circle and Coinbase to support USDC, is committed to more independence from Ethereum, Stellar took on a key role.
(…) Linking the world’s fastest growing USD stablecoin to the world’s fastest moving network. 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, stablecoins and their rise in market cap are apparently correlated with the performance of cryptocurrencies. The more demand for these assets, the more institutions and private investors they will need to enter the market, as seen below.
XLM is trading at $ 0.60 with a correction of 8.6% on the daily chart. In the weekly chart and the monthly chart, XLM is performing well with 12.2% and 53% gains respectively.