After some time in the shadows, Stellar Lumens (XLM) is back. Recently, it’s pumped and it’s got to make you question if it’s a signal for the growing crypto payroll market. With businesses hunting for new ways to pay salaries, XLM’s capacity for cross-border transactions and the arrival of Protocol 23 may completely flip how salaries are paid.
The Price Surge
Out of nowhere, Stellar (XLM) has experienced an impressive 11% price bump in just one day. It broke through months of stagnation and completely caught many off-guard. Speculation about institutional partnerships and renewed interest in cross-border payment solutions have been behind this movement. The daily charts show a sizable green candle, sending the price from around $0.30 to the $0.40 range, a territory that hasn’t felt the light of day since early 2024.
The reality is Protocol 23 might be a big part of that. The upcoming upgrade introduces Soroban, a new smart contract platform. This upgrade is going to change Stellar from just a payments-focused platform to a full-blown smart contract ecosystem that competes with Ethereum and Solana. This opens up a lot of new possibilities beyond just cross-border payments and remittances. If this upgrade goes flawlessly, it could pave the way for DeFi applications and other complex use cases directly on the chain.
Web3 Business Banking
As we follow this narrative, it’s becoming clear that Web3 business banking is a more relevant topic. With Protocol 23 allowing smart contracts to be integrated, payroll can start to be programmed. This is super useful for businesses looking for crypto payroll solutions that offer instant stablecoin payments to their employees. Almost like getting paid in real-time.
There is also the possibility of partnerships within the Stellar network boosting its relevance and reliability. This would cater to cross-border payments and create even more demand for XLM in payroll processes.
Smart Contract Payroll
Protocol 23 is going to be a huge leap for payroll solutions, especially for startups in Asia and beyond. They’ll be able to process payroll faster and handle higher volumes without any hiccups. We could see salaries getting paid in crypto in real-time, streamlining the whole payroll experience and making it more reliable.
The Unified Asset Events function should help track token movements, allowing payroll solutions to provide clear, auditable records for compliance. This could help with any sort of regulatory creep as countries start to pay more attention to crypto payroll.
The Charts
XLM’s current price action looks impressive too. The Relative Strength Index (RSI) is sitting at a high of 87.08, indicating some overbought conditions. However, in this case, it may signify the beginning of a massive rally. The price has broken through Fibonacci levels, hinting at more upside going forward.
That said, it also looks like there is potential downside risk. Immediate support is around $0.345 then $0.306–$0.290. If these levels can hold, we might continue a bullish trend, but there could be volatility either way.
Future Predictions
Looking forward, XLM may take a big role in the future of payroll. It’s easy to see the growing demand for stablecoin salaries. The programmable elements of smart contracts can help businesses manage payroll and volatility. All of this depends on the regulatory environment too.
If stablecoin salaries grow, especially in the UAE, XLM could become vital in crypto payroll. More startups and SMEs looking into crypto payments will only help cement XLM’s place in the market.
Summary
All in all, Stellar Lumens is well positioned to play a key role in the future of crypto payroll. With Protocol 23 bringing smart contracts to XLM, it’s no longer just a payments rail. As companies look for new methods to manage payroll, XLM’s cross-border payments and stablecoin capabilities will help shape the future of salaries in the crypto industry. This isn’t just a trend; it’s a sign of how businesses will operate moving forward.
