August 12, 2024 — Stellar (XLM) has seen notable activity over the past 24 hours, bolstered by significant partnerships and increased adoption of its blockchain technology. The cryptocurrency’s daily transaction volume surged by nearly 247%, reaching $279.36 million, which highlights growing interest and usage of the Stellar network.
This surge in activity is partly attributed to new partnerships, including Simplex’s integration of USDC on the Stellar network, which facilitates faster and cheaper transactions. Additionally, Paychant, a Web3 on- and off-ramp solution for African users, has integrated the Stellar Anchor Platform, expanding Stellar’s reach across the continent. Financial institutions are increasingly turning to Stellar for asset tokenization, further solidifying its role in the blockchain space.
As a result of these developments, Stellar’s price has risen by over 9% in the last 24 hours, placing it among the top-performing cryptocurrencies of the day. The network’s momentum suggests potential further gains as it continues to attract institutional interest and expand its ecosystem (CoinDesk) (CryptoNews) (CryptoNews).
