Of the many cryptocurrencies on the market out there, Stellar seems to be flying under most people’s radar. That is a bit strange, given how this project is fairly active, all things considered. Thanks to a solid community, the social presence of Stellar and XLM is on the rise.
The Stellar Development Foundation Remains Active
Building a blockchain-based crypto asset is only the first hurdle to overcome. Continually adding new things, improving existing code, and taking community feedback to heart is something else entirely. The Stellar Development Foundation is doing a very good job in this regard, as can be seen from its Q2 report.
Several core network upgrades have been finalized, which will all bring added value to the Stellar network. There are also two new Enterprise Fund Investments, as both Abra and SatoshiPay received some major support. Last but not least, the developer documentation has received a massive overhaul, which will make it easier for coders looking to tinker with this technology.
Solid Overall GitHub Activity
While the Stellar Development Foundation is hard at work, there are still plenty of other code contributors. In the past 6 months, there have been 317 commits through the GitHub repository. A very respectable number, all of which is made possible thanks to the 68 contributors recorded by CryptoMiso.
Not only does this show that there is ample development going on, it is also apparent that Stellar is in a very good place right now. This makes one wonder what possible upcoming features users can look forward to in the second half of 2020. No matter how old a project is, there is always plenty of room for future improvements.
Upcoming DSTOQ Launch
Building new projects on top of the Stellar blockchain will bring a lot more attention to this ecosystem, One such project to look forward to is DSTOQ, which is expected to launch at some point next week. This project focuses on making investing affordable and more accessible to people living in emerging markets.
We are extremely excited to announce that DSTOQ will be launching its full product next week!
We look forward to making #investing affordable and accessible to people in #EmergingMarkets.
Get ready for launch 🎉😍🚀#FinancialInclusion #StellarFamily pic.twitter.com/AwemoN881m
— DSTOQ (@dstoq) July 15, 2020
What is rather interesting is how this platform will launch as a mobile application.If all things go according to plan, it will see a simultaneous launch on both Android and iOS. Emerging markets are home to a growing population of people who rely on their mobile devices for various services. As such, DSTOQ can be a game changer, assuming it gains sufficient traction.
It’s all About Social Traction
If no one discusses Stellar on social media, no new people will become part of the ecosystem in the future. Thankfully, the XLM community is very strong, especially when looking at the statistics over the past 6 months. Over 201,000 social posts, an engagement of over 312 million, and more shared links than before all add up to some very interesting statistics.
Not all of the statistics are positive, but that is to be expected in this day and age. Stellar’s social sentiment has decreased slightly, and its social dominance dropped by over 10%. These are aspects that can be improved upon with relative ease, especially once DSTOQ – and perhaps other projects – comes to fruition. The recent addition of Stellar to Samsung smartphones will also have a big party to play in these proceedings.
Climbing the Liquid Marketcap Rankings
Several interesting statistics can be analyzed to help determine what the future may hold for Stellar. Looking at the current liquid market cap for Stellar, one has to acknowledge that things are heading in the right direction. XLM Currently ranks 7th of all currencies, keeping it ahead of Litecoin, EOS, Tezos, and so forth.
In terms of overall transaction volume, the situation is a bit different. Stellar comes in 14th place here, but that is still more than acceptable, given the current market conditions. Stellar is not that far behind Bitcoin SV and Paxos Standard Token. Its lead over NEO is not all that big either, thus these rankings will continue to evolve for some time to come.
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