XLM rose 3.79% to $0.1985 on September 19, following Stellar's activation of Protocol 28 two days earlier. Trading volume reached approximately $568.96 million, with market capitalization near $6.99 billion.
Protocol 28 introduced consensus changes and contract-migration tools for Soroban smart contracts. During testing, the network recorded 211 transactions per second across 100 blocks. The upgrade supports developer efforts to migrate existing contracts to newer network functions, with potential for future throughput improvements exceeding 3,000 transactions per second.
Network Activity and Assets
Stellar currently supports approximately $3.3 billion in tokenized real-world assets, nearly $884 million in stablecoins, and roughly $294 million in decentralized-finance value. Franklin Templeton and Ondo have used the network for tokenized asset initiatives.
Technical Levels
XLM trades above its middle Bollinger Band near $0.19277. The $0.197 level and middle band serve as immediate support areas. The upper Bollinger Band sits near $0.21832, with the $0.21 to $0.22 range marking higher technical resistance. The lower band stands around $0.16922.
Momentum indicators show improved buying pressure, with the MACD line at 0.00313 above its signal line of 0.00185. Long-to-short derivatives ratios near 1.15 and positive funding rates indicate growing long exposure in the market.
