Quarterly Report For XLM Shows Strong Growth In 2020

The Stellar news today show that the foundation behind XLM, the Stellar Lumens Foundation, recently released its quarterly report showing continuous growth of the network as well as average transaction times of 5.5 seconds.

As we could see from the full report released by the SDF, the current developments in the first quarter of 2020 have been ongoing. Both the community behind Stellar’s XLM token and the cooperation partners have contributed significantly to the further growth of the ecosystem. On top of that, both the transaction volume and the usage have increased further compared to the last quarter of 2019.

Meanwhile, we can also see that the number of registered Stellar accounts has slightly decreased from 4,614,261 (in Q4 of 2019) to 4,531,632 which is a decrease of 1.79%. In contrast, this shows that the average trading volume on Stellar’s decentralized exchange (XLM) increased from 3,231,673,996 to 3,490,422,131, which measures an increase of more than 8%.

The quarterly report for XLM also shows that the daily operations on the Stellar Network managed to increase by more than 113% (from 1,086,301,804 to 2,319,330,319) which additionally shows that existing players are making greater use of the network than the one compared to the last quarter. In addition to this, the number of absolute payments fell slightly by 1.75% – going from 6,114,465 to 6,007,446.

In the quarterly report for XLM which is now the focus of the crypto news and altcoin news specifically, we can see that a transaction on the Stellar network is confirmed within 5.5 seconds, which is significantly faster than most of the projects available on the market.

Most recently, Stellar also convinced CoinQvest to use its network for processing cross-border payments. With this, Stellar is about to move millions of US dollar within seconds for the price of a few pennies, regardless of whether the recipient and sender are thousands of kilometers apart.

XLM has also pushed the development of its very own Stellar wallet, scheduled to be released this summer. To this end, XLM has teamed up with the Settle network, nTokens, Saldo, AnchorMXN and AnchorARS to improve the developments in this area and scalability. The network behind XLM, as the quarterly report shows, is continuing to expand its own presence in East Africa and Southeast Asia.