Stellar (XLM) processes 14.16 million transactions, its busiest day in a month
In brief
- Stellar processed 14.16 million transactions on October 23, per Chainspect data cited by U.Today.
- Average throughput was 163.9 TPS on October 23, with spikes to 224.6 TPS on October 24.
- Average transaction fees held at $0.00012 during the spike.
- U.Today credits the September Protocol 28 upgrade and stablecoin and RWA inflows.
- Protocol 30 ("Bell") vote is due in the coming days, according to U.Today.
The numbers behind the spike
Chainspect's data, as reported by U.Today, puts the day's average processing speed at 163.9 TPS. That wasn't the ceiling, though. At certain periods on October 24, throughput hit new spikes of 224.6 TPS.
Fees didn't follow the traffic up.
The same data shows Stellar kept the average transaction fee at $0.00012 through the busy stretch. It's also not the first time this month. A similar run on October 11 brought 12 million transactions at 139 TPS, and transfer costs stayed low then too (so October 23 wasn't a one-off).
What U.Today says is driving it
U.Today attributed the traffic growth to recent code updates. In its account, the Protocol 28 ("Adapter") upgrade released in September rebuilt the network's throughput mechanisms, and Stellar reached a peak of 217.4 TPS over a 100-block window on September 26. Chainlink price data feeds then launched on Stellar on October 14.
The outlet also tied the October peak to large capital inflows into the stablecoin and tokenized real-world asset (RWA) sectors. It pointed to what it called a landmark deal for the segment: the first institutional repo deal on the network with automatic rollover, collateralized by U.S. Treasuries (USDM1 tokens).
What's next for the network
Developers are preparing the next upgrade, Protocol 30 ("Bell"), which U.Today said will go to a vote in the coming days. The report didn't detail what the vote would decide.
U.Today also reported that Stellar ranks second among L1 networks by number of active developers, with almost four thousand working on it. By the outlet's figures, the network has kept 99.99% uptime as new users arrive, and total accounts have now passed 11 million.
