Recent Estimates Show That Stellar Is Leading In Terms of Daily Active Accounts, What Does This Mean For The XLM Price Prediction?

Stellar Lumens News today reveals a new landmark for the network after recent estimates show that Stellar Lumens is now leading in daily active accounts. According to OrbitLens the data used for the analysis that gave this estimate was derived via charting tools. Today’s Stellar Lumens current news shows that the group behind this latest report claims that XLM daily active accounts report 10x figures.

It should be recalled from an earlier report on April 29 via a blog post on OrbitLens (the entity behind StellarExpert the block explorer and analytics platform), claims that Stellar’s daily active accounts were underrepresented on the majority of data platforms. One of such platforms of note is CoinMetrics. Now, today’s Stellar Lumens current news reveals that OrbitLens is reporting Stellar as the leading network in daily active accounts.

Stellar Lumens News Today – XLM Price Prediction – XLM News Today: Only 0.277% of Daily Accounts for Stellar are Active on CoinMetrics

According to CoinMetrics the daily active accounts for the Stellar network stands at 7,500 as of April 30. And with nearly 3.3 million accounts on Stellar’s network, this percentage equates to a lowly 0.277% of active accounts. However, OrbitLens is saying something different more.

According to OrbitLens, the daily active accounts typically spikes at 58,000 as of April. The fluctuations seen in the chart above are explainable by the weekly inflation payouts. That is situations where new lumens are included to the Stellar network. This is done at a rate of 1% per year according to accounts and based on votes.

Stellar Lumens News Today – XLM News Today: Stellar Is Underrepresented According to OrbitLens

OrbitLens argues that the daily active accounts on Stellar is Underrepresented. According to the platform, the reason is due to the model for gauging account activity. Smartereum understands that analytics services use a payments-based model to determine the number of active accounts. Such a model discounts transaction types on Stellar including updating settings, executing path payments, and submitting orders.

Consequently, following CoinMetrics data and OrbitLens analysis Stellar Lumens ranked poorly compared to other cryptos. The coin is currently ranking number 17 in this regard according to data on Messari.

Stellar Lumens Current Price – Stellar Lumens News Today – XLM News Today: 4% of the Accounts on Stellar are Active, OrbitLens Says

Along with other critics of the current methodology in play, OrbitLens concludes that the reported data isn’t accurate. Instead, the platform applied a new model when accounting for the breadth of transactions on the Stellar network. According to their analysis, OrbitLens reached the conclusion that 4% of accounts on Stellar’s network are active. This means no less than 130,000 accounts are active daily.

Stellar (XLM) Price Today – XLM / USD

Name Price24H (%)
Bitcoin (BTC)
$11,918.00
7.18%
Stellar (XLM)
$0.124300
-3.53%

If the estimates given by OrbitLens are correct, then Stellar’s actual position should be number 3 on the charts of the total number of accounts active in the last 24-hours alone. This means it will usurp Dogecoin’s position. Should OrbitLens data be deemed reliable, then their updated metric could become a new reference point suggesting that Stellar is making steady growth towards more adoption.

According to data given by CoinMarketCap the price of Stellar Lumens stood at $0.101235 USD as of the time this report was published. The digital asset is down by 1.75% in the last 24 hours with a total market cap of $1,937,149,399 and daily trade volume of $218,873,764.

What do you think about the Stellar Lumens news today? Share your thoughts in the comment section.

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