Key Highlights
- Stellar has seen a surge in network participation, with daily active addresses recently reaching 94,972 and total value locked (TVL) touching a peak of nearly $273 million.
- MetaMask integrated Stellar as a default network across its browser extension and mobile apps, provisioning Stellar addresses for all existing users.
- The network launched its Protocol 30 upgrade, nicknamed “Bell,” on testnet, with validator voting for mainnet activation scheduled for November 23.
Surging Onchain Metrics and DeFi Expansion on Stellar
Onchain activity across the Stellar network has shown substantial momentum, marked by sharp upticks in decentralized finance (DeFi) engagement and new user participation. According to blockchain analytics platform DefiLlama, which monitors transaction counts, new wallets, and active addresses across major blockchains, Stellar recently recorded 8,035 new addresses alongside 90,027 active addresses within a single 24-hour window.
This steady baseline of address creation aligns with broader milestone achievements across the ecosystem. As reported by Blockonomi, Stellar’s DeFi total value locked reached a record high of nearly $273 million on October 2, supported by DefiLlama data, while daily active addresses simultaneously pushed to 94,972. While daily operational numbers naturally fluctuate, these elevated metrics point to an expanded footprint for decentralized applications and asset movement on the ledger.
Ecosystem Reach Expands with MetaMask Default Integration
Access to Stellar has expanded significantly beyond its native tooling through major third-party integrations. On October 29, prominent Web3 wallet provider MetaMask integrated Stellar as a default network across both its mobile applications and web browser extensions, according to Ad-hoc-news. Citing statements from the Stellar Development Foundation, the integration ensures that every existing MetaMask account automatically includes a designated Stellar address, dramatically reducing friction for millions of self-custody wallet holders to interact with the chain.
Protocol 30 “Bell” Upgrade Advances on Testnet
Alongside front-end accessibility wins, core developers have advanced significant technical enhancements to the underlying infrastructure. Coinranking reported that Stellar successfully activated its Protocol 30 upgrade, designated as “Bell,” on the public testnet on November 4. Network validators are scheduled to cast their votes on deploying the Protocol 30 upgrade to the mainnet on November 23 at 17:00 UTC, marking the next critical milestone in the ledger’s technical roadmap.
Why This Matters
Despite rising network participation and major technical milestones, underlying onchain activity does not inherently guarantee immediate upward pressure on the native token, XLM. Market analysis cited by Ad-hoc-news highlights that Stellar’s low network transaction fees, coupled with the frequent use of alternative assets and stablecoins for settlement purposes, can temper the direct correlation between user growth and sustained XLM market demand. As of November 7, XLM was trading at approximately $0.154. Nevertheless, structural improvements such as default MetaMask support and the impending Bell mainnet vote position the ecosystem for deeper integration across the broader decentralized finance landscape.
Frequently Asked Questions
What is the Stellar Protocol 30 “Bell” upgrade?
Protocol 30, dubbed “Bell,” is a major technical upgrade for the Stellar network that was deployed to the testnet on November 4. Independent network validators are scheduled to vote on its official mainnet activation on November 23 at 17:00 UTC.
How does the MetaMask integration affect Stellar users?
Following an integration on October 29, MetaMask established Stellar as a default network in both its browser extension and mobile apps. According to the Stellar Development Foundation, every existing MetaMask account now automatically features an active Stellar address, streamlining network onboarding.
Does higher network usage automatically increase the price of XLM?
Not necessarily. While Stellar’s daily active addresses have hovered near 100,000 and DeFi TVL reached record levels near $273 million, low network transaction fees and the ability to settle transactions using other assets can limit how strongly onchain growth impacts native XLM demand.
