Stellar's DeFi TVL Surges to $273M, Sets New Record

Stellar, a fast-growing cryptocurrency project, has reached a new milestone in its decentralized finance (DeFi) applications. According to data from DeFiLlama, the network's total value locked (TVL) has surged to a record high of nearly $273 million as of October 2. This marks a significant increase from just one week prior, when its TVL climbed to about $265 million.

Stellar's DeFi TVL growth is a testament to the network's increasing participation among users. As more users engage with the network, the value of assets locked in DeFi applications on the Stellar network continues to grow. This growth has also driven further growth in the native token, XLM.

In addition to its record-breaking TVL, Stellar has also seen substantial increases in its on-chain activity. The network now boasts about $934.54 million in stablecoin market capitalization and about $2.82 billion in active real-world asset (RWA) assets under management. Furthermore, the network's active addresses have reached 94,972, bringing it closer to a major milestone in user activity.