Stellar Network Sees Record Activity Amid Low Fees
Key Summary
Stellar's transaction fees hit a 7-day low, coinciding with record-breaking network activity, including a peak of 12 million transactions processed on October 11, averaging 139.15 transactions per second. The low fees and high activity demonstrate the network's ability to process transactions at a minimal cost while maintaining substantial activity. This follows the recent Stellar Protocol 28 upgrade, which brought about improvements that allowed faster consensus and reduced transaction delays.
Key Development
The low fee coincided with a significant increase in network usage as Stellar saw its busiest day in a week.
Market Context
This development suggests that despite the current market conditions, the Stellar network is able to maintain its efficiency and attract users.
Implications
The low fees may attract more users to the network, potentially increasing the overall adoption and usage of XLM.