Stellar Lumens (XLM) has been making significant progress in the cryptocurrency market, with its growing network of off-ramp destinations and global collaborations. The Stellar Development Foundation is also nearing the official mainnet launch of its Soroban smart contract platform, which could potentially broaden the scope and applications of XLM.The platform offers Turing-complete smart contract capabilities and has a growing ecosystem of 70+ projects for diverse applications, such as oracles, DeFi protocols, and DAOs. This expansion hints at Soroban’s capacity to usher Stellar into a new era of multifaceted applications, rivaling established smart contract blockchains like Ethereum.The current climate is seen as advantageous for Stellar’s growth, with Ethereum’s high gas fees and network congestion creating space for a more cost-effective smart contract alternative. However, Soroban’s scalability remains unproven, necessitating developer interest post-launch.Stellar appears ready to compete in the smart contract arena and introduce fresh utility for XLM. Successful execution of this launch could propel Stellar’s ambition to become a multifaceted blockchain platform. With its enhanced accessibility for users, broad acceptance, resilience amid market dynamics, and comparison to peers, Stellar Lumens is making notable strides in the cryptocurrency market.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	9
People	Mark Zuckerberg, David Hans
Companies	Stellar Development Foundation, U.S. Federal Reserve, FINRA, eToro, European Central Bank
Currencies	ethereum, chainlink, xlm, usdc, bitcoin
Securities