XRP rival soars 14% in a day, adding $1 billion

Stellar ($XLM) is witnessing a strong price rally, having gained 14% in the past 24 hours and rising 25% over the past week.

The surge has also seen around $1.2 billion added to $XLM’s market cap in just one day, driven by a number of developments within the ecosystem.

Most notably, the launch of the Protocol 23 upgrade introduces Soroban’s unified events to streamline smart contract interactions and power more scalable decentralized applications (dApps) on the network.

$XLM updates

Another major boost to the network comes in the form of PYUSD, PayPal’s stablecoin which has been successfully integrated within Stellar.

The integration is expected to enhance cross-border payment capabilities and expand $XLM’s global reach in digital payments.

Additionally, the network has rolled out new features, including state archival and multiplexed accounts, improving both data management and account functionality for developers and institutions.

Rapid growth also suggests increasing confidence in Stellar’s ability to handle tokenized real-world assets (RWAs).

Franklin Templeton and Circle (NYSE: CRCL), for example, have reportedly deployed nearly $500 million in U.S. Treasuries on Stellar, implying bullish sentiment in the network’s long-term potential.

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