Network upgrades ahead of protocol vote
Stellar has rolled out its Protocol 24 release, marking a crucial step before the upcoming mainnet vote. The blockchain network announced that custom code releases are now available for developers running Stellar infrastructure. This update focuses on fixing system bugs and ensuring network stability.
Node operators need to update their software across various components. Those running Stellar Core, Horizon, RPC, or Galexie must install the new releases. Docker users should pull fresh Protocol 24 images from Stellar’s registry, while Debian package users face manual updates for stellar-core, stellar-horizon, and stellar-binaries.
Validators have a specific timeline to follow. They’re expected to vote on the Protocol 20 upgrade on October 22, but they need to prepare their systems in advance. The network provided detailed instructions to ensure the voting process goes smoothly.
What doesn’t need updating
Interestingly, not everyone needs to make changes. Users of Stellar SDKs can breathe easy – these require no structural or data format modifications. The same applies to people simply holding Stellar Lumens. Their experience won’t be affected by this backend update.
The main goal here is synchronization. Stellar wants all node operators and validators running the same software version before the mainnet vote. This coordination helps maintain network stability and prevents potential disruptions.
Market context and price action
While the network prepares for its upgrade, XLM’s market performance shows mixed signals. The token dropped 2.9% in the last 24 hours, currently trading around $0.3167. It fell from a daily high of $0.3328 amid broader market fluctuations.
The crypto fear and greed index sits at 33, indicating some investor caution. Bitcoin’s dominance has climbed to 59%, which often means money flows away from altcoins like Stellar.
Yet there’s a silver lining. Trading volume increased by nearly 10% to $205 million, suggesting some traders see the price drop as a buying opportunity. With the “Uptober” rally still potentially in play, Stellar might make another attempt at reaching $0.40 if investor momentum holds.
I think the timing of these network upgrades is interesting. While the technical improvements are happening behind the scenes, the market seems to be reacting to broader crypto trends rather than the protocol changes themselves. Perhaps once the upgrades are complete and the network proves more stable, we might see different price dynamics.
The volume increase is noteworthy though. When trading activity picks up during price declines, it often signals that investors are accumulating rather than panicking. Still, reaching $0.40 would require significant buying pressure, especially with Bitcoin dominating the market attention.
