Stellar has recently seen two developments simultaneously: firstly, on September 16th, a mainnet vote for Protocol will take place; secondly, its network has been utilized in a stablecoin settlement prototype for a test environment of the Bank of England's RTGS. Driven by this, the price of XLM has risen to around $0.194, approaching the short-term resistance level of $0.20.
Access to the Bank of England RTGS testing environment
Nuvant and Technologies have built a stablecoin clearing prototype based on Stellar and integrated it into the RTGS Synchronisation Lab testing environment of the Bank of England. This prototype mainly tests the circulation of digital currencies in the central bank's settlement environment.
Tests the issuance, redemption, and exchange processes between stablecoins, as well as between stablecoins and fiat currencies. The article mentions that Stellar plays the role of blockchain infrastructure in this prototype, used to cooperate with the central bank's settlement system to complete relevant process verifications.
Protocol 28 will be voted on September 16th.
Stellar The validators plan to vote on Protocol 28 on September 16th. This version is codenamed “Adapter”, and the focus is not on adding new token functions, but on optimizing the maintenance and operational efficiency of the Soroban smart contract.
- CAP-83: Adjusting the transaction set dissemination method to improve consensus performance when slow data arrives
- CAP-85: Supports multiple Soroban contracts to share executable code and upgrade uniformly.
- CAP-86: Added contract data migration function to facilitate application structure adjustment
Overall, this upgrade is more focused on developer infrastructure, with the goal of reducing the operational and maintenance burdens for Soroban applications during expansion and upgrading processes.
XLM Short-term follow-up: $0.20
As of press time, it is at $0.194. It is currently testing in the range of $0.195 to $0.20. The article mentions that this level is also near the downward trend line that has been suppressing prices since the rebound in June.
If the daily close is above $0.20, the next resistance level could be around $0.22; if it continues to rise, the range of $0.26 to $0.28 will become the main pressure area thereafter. The support level below that is between $0.182 and $0.188.
