Stellar Lumens (XLM) is the native cryptocurrency of the Stellar blockchain. During 2022 its market value fell by 74%, and right now it is almost -92% from the maximum. Last year it suffered the positive effects of the great bull run, but without being able to update the all-time high of $0.87 reached in January 2018, i.e. during the peak of the previous cycle.
Last year, the peak was in May at $0.72, which is not much below the $0.87 level four years ago.
Stellar: On-chain data
These data would suggest an investor flight from XLM, and instead this year Stellar recorded a much higher volume of transactions than last year.
A few days ago Denelle Dixon published a 2022 report about Stellar on the official blog of the project where there are highlighted some usage parameters clearly growing this year compared to the previous one.
First of all, the number of accounts increased by 17%, exceeding 7 million. Secondly, the number of transactions has increased significantly. Overall, it went from 1.8 to 3.6 billion, with an increase of 92%. However, it should be remembered that, for example, about a billion transactions are recorded every day on the Ethereum blockchain alone, while for Stellar we are talking about 3.6 billion transactions in a year.
In particular, the number of payments has increased, going from 125 to 345 million, or with a +146% in 2022 compared to 2021.
In addition to this on-chain data, the report reveals that the value of relevant assets, i.e. assets linked to real financial instruments that connect Stellar with the global financial infrastructure, has also grown. During 2022 Stellar has seen a 1.9x increase in the daily transaction volume of these assets since the beginning of the year.