Network Upgrade Preparations Underway
Stellar has rolled out its Protocol 24 release, focusing mainly on bug fixes and system stability improvements. The network announced through social media that custom code releases are now accessible for developers managing Stellar infrastructure. This seems like a routine maintenance update rather than a major feature addition.
Node operators running Stellar Core, Horizon, RPC, or Galexie need to update their software with these new releases. Docker users have to pull fresh Protocol 24 images from Stellar’s Docker registry. Those using Debian packages face a manual update process for stellar-core, stellar-horizon, and stellar-binaries.
Validator Voting Schedule
Validators received specific instructions to prepare their systems for the Protocol 20 upgrade vote scheduled for October 22. The timing appears carefully coordinated – stable releases became available on October 20, followed by a testnet upgrade on October 21 at 2100 UTC, with the mainnet upgrade vote happening October 22 at 1700 UTC.
I think the main objective here is synchronization. The network wants all node operators and validators running identical software versions before the crucial mainnet vote. This approach makes sense for maintaining network stability during upgrades.
Market Context and Price Action
While the technical team focuses on network improvements, XLM’s market performance shows some challenges. The token dropped 2.9% in the last 24 hours, currently trading around $0.3167 after reaching highs near $0.3328. Market volatility appears to be affecting most altcoins currently.
The broader crypto fear and greed index sits at 33, suggesting cautious sentiment among investors. Bitcoin’s dominance rising to 59% indicates funds might be rotating away from altcoins temporarily. Still, trading volume increased nearly 10% to $205 million, which could signal some investors view the price drop as a buying opportunity.
Looking Ahead
Despite current market conditions, some traders remain hopeful about Stellar’s potential during the “Uptober” period. The $0.40 price target seems ambitious given current levels, but sustained investor interest and green volume indicators could support upward movement. The network’s technical upgrades might provide fundamental support, though market sentiment often drives short-term price action independently of technical developments.
It’s worth noting that Stellar SDK users and XLM holders don’t need to take any action for this upgrade – their systems and holdings remain unaffected. The changes primarily impact infrastructure operators rather than end users.
