As Stellar continues to prove itself as a fast-growing crypto project, challenging XRP even across the DeFi ecosystem, the network has just reached a new milestone.
With the network seeing increased participation among users, it has subsequently recorded notable growth across its DeFi applications, pushing it to reach a new record in its total value locked as of October 2.
Stellar TVL hits all-time high
Per the latest data from DeFiLlama, Stellar has seen its DeFi TVL surge to nearly $273 million, marking the highest level it has ever reached since it launched.
This new record has drawn attention from market participants as it has come just one week after it initially climbed to about $265 million.
This suggests that Stellar has continued to witness steady growth of capital deployed across protocols based on its network, driving further growth in its native token, XLM.
In addition to its record TVL growth, the network has also recorded substantial increases in its onchain activity. Stellar now boasts about $934.54 million in stablecoin market capitalization and about $2.82 billion in active real-world asset (RWA) assets under management.
Stellar active addresses near 100,000 milestone
Following the surge in its DeFi performance, user participation in the Stellar network has also continued to increase, bringing the network closer to a major milestone in its user activity.
While Stellar also saw its 24-hour DEX volume reach $3.38 million, the network is seeing active participation from users, as its active addresses have now reached 94,972.