Stellar Sees Booming Increase In Account Activity

The growth of the Stellar Network seems to be constant and during this year alone, not only has the market cap increased but so has interest from the public. The favourable activity of XLM has led to the price of the token to be increased to the point that it even took over Stellar to become the fourth biggest cryptocurrency in the world according to CoinMarketCap.

Data gained from a Block explorer and analytics platform for the Stellar Network, Stellar Expert and its growth has been very significant during this second half of the year.

At the start of 2018, Stellar kicked off the year with over 160,000 active accounts and by the middle of the year, the tip of a bearish streak resulted in more than 500k accounts to be registered but after this the continuous growth of the Stellar Network is mind-blowing since to date, there are over 2 million active accounts on the platform.

The numbers show more than ten times the amount of users on the network are on it now than there had been at the start of 2018.

The official Reddit account for Stellar shared the news with pride as they said:

“It took almost four years to get from 0 to 1,000,000 accounts, and only two months to double the number.”

This pushed a series of replies which users shared their thoughts about what could have caused the massive growth of the network.

For some users, the most important causes of growth for Stellar is the huge airdrop conducted on the occasion of the partnership between Stellar and the popular blockchain.com wallet and the mass growth of the Indonesian project, Diruna which looks to develop a marketplace based on Stellar technology.

As reported by Ethereum World News:

“The airdrop announced by the Stellar Foundation consisted of more than $20 in XLM for every user of the famous Blockchain.com wallet (formerly known as blockchain.info) and its hardware wallet. The total amount of the airdrop is $125 million, making it the most substantial airdrop token in the history of cryptocurrencies.”

In a similar sense, the growth of the Indonesian project has seen the growth of over 1,000,000 active accounts which makes it one of Stellar’s most important developments.

What are your thoughts? Let us know what you think down below in the comments!