Stellar DeFi Hits New TVL Record on Growing Stablecoin Holdings

The Stellar DeFi ecosystem has reached a new milestone in total value locked (TVL), with a record $273 million on October 2, according to DeFiLlama. This marks an increase of around $8 million from the previous week's reading of approximately $265 million, representing a 3% growth.

The rise in TVL is accompanied by growing stablecoin market capitalization, reaching $934.54 million, and active real-world assets under management at around $2.82 billion. Daily decentralized exchange volume also hit $3.38 million, while the number of daily active addresses neared 100,000, standing at 94,972.

The growth in Stellar DeFi is attributed to its expanding financial footprint, with stablecoin holdings and tokenized assets playing a significant role. The network's ability to support transaction fees, account reserves, and smart contract rent connects the native token XLM with applications operating on the platform.