Stellar’s XLM Surges as Soroban Smart Contracts Debut with $100M Boost

Azeez Mustapha


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The Stellar Development Foundation (SDF) has made a significant stride by launching Soroban, its highly anticipated smart contract platform, on the Stellar mainnet. This milestone marks a pivotal moment for Stellar Lumens (XLM), the native cryptocurrency of the Stellar network, as it experiences a notable surge in interest and activity.

With a strategic investment of $100 million, the SDF is poised to catalyze Soroban’s growth and adoption within the blockchain ecosystem. This substantial commitment underscores the foundation’s dedication to advancing decentralized finance (DeFi) and democratizing financial services globally through the innovative capabilities of smart contracts.

XLM’s Rise to Prominence:

The debut of Soroban amplifies Stellar’s capabilities, positioning XLM as a frontrunner in the digital asset space. As Soroban opens up new possibilities for decentralized applications (dApps) and financial services on the Stellar network, XLM emerges as a key beneficiary, attracting heightened attention from investors, developers, and industry players alike.

Despite recent market fluctuations, XLM’s surge in value reflects growing confidence in its long-term potential and the transformative impact of Soroban’s integration. This upward trajectory signals a promising future for XLM as it continues to solidify its position as a leading digital asset in the ever-evolving landscape of blockchain technology.

Key XLM Levels to watch

Stellar's XLM Surges as Soroban Smart Contracts Debut with $100M BoostStellar Lumens (XLM) has stabilized following a recent price decline from its peak at $0.1630, finding support near $0.1170. The oversold condition indicated by the Stochastic oscillator suggests a potential halt in the downward trend. Analysts anticipate XLM’s price to converge towards the liquidity pool at $0.1630, a crucial level influencing market sentiment and future price movements. Traders are closely monitoring these technical indicators and support levels for insights into short to medium-term price dynamics.

XLM/USD Key Levels

Demand Levels: $0.1170, $0.0950
Supply Levels: $0.1630, $0.1920

Stellar Metrics

Total Market Cap: $2.58T
XLM Market Cap: $3.8B
XLM Volume (24h): $149M
Rank: 33

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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