The Stellar Network, a blockchain platform built for fast and low-cost cross-border payments, shows optimistic signals even as the XLM token recently corrected.
What are these signals, and are they strong enough to withstand the growing selling pressure across the market at the end of September?
Stellar’s Total Value Locked Reaches New High in September
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Stellar’s Total Value Locked (TVL) hit a record high in September, with more than 400 million XLM locked in protocols.
Data from DeFiLlama shows that this figure has doubled compared to the previous quarter. The increase reflects the community’s growing confidence in locking XLM within the Stellar ecosystem.
TVL calculated in XLM is more reliable than in USD terms. This is because XLM’s USD price fluctuates sharply due to market factors, which can distort the actual picture of assets locked.
In fact, since the beginning of the quarter, XLM’s price has fallen more than 30%, but USD-based TVL has remained stable at around $140 million. The main reason is that the amount of XLM locked in protocols has continued to grow instead of declining.
TVL in XLM focuses on intrinsic value. It accurately measures the assets users commit to staking, lending, or liquidity provision. Leading protocols attracting capital include Blend, Aquarius Stellar, and Stellar DEX.
However, objectively, Stellar’s TVL remains small compared to other ecosystems, where TVL reaches into the billions of USD.
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Smart Contract Activity Surged in September
Another highlight for the Stellar network is the sharp increase in smart contract activity.
According
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Author: Nhat Hoang
