Is Stellar (XLM) Ready for Incoming Protocol 20 Upgrade?

Stellar (XLM) blockchain has unveiled a new release for its Protocol 24 to boost the network and ensure stability by fixing certain bugs in the system. In a post on X, the network confirmed that custom code releases for Protocol 24 are now available to developers running Stellar infrastructure.

Stellar Protocol upgrade instructions

According to the instructions, those operating nodes like Stellar Core, Horizon, RPC or Galexie need to update their software with the new releases. Notably, those using Docker need to pull the new Protocol 24 images from Stellar’s Docker registry.

However, users of Debian packages need to update their stellar-core, stellar-horizon and stellar-binaries. The update has to be carried out manually.

For their part, validators have been asked to vote on the Protocol 20 upgrade on Oct. 22 by preparing their system in advance. The specific instruction to initiate the vote has been provided to ensure a seamless process.

The only exempt category is those using the Stellar SDK. These require no structural or data format changes in this upgrade, as SDKs will continue to work as is. The same is applicable to anyone holding Stellar Lumens.

The target of the update is to guarantee that all Stellar node operators and validators are in sync and are able to keep the network stable. The overall goal is to ensure that everyone is running the same software version before the mainnet vote scheduled for Oct. 22.

Can Stellar hit $0.40 before Uptober rally ends?

While Stellar is ensuring network stability, on the broader cryptocurrency market, XLM is still battling volatility challenges. In the last 24 hours, Stellar’s price has shed 2.9% of its value and now exchanges at $0.3167. The asset dropped from a high of $0.3328 amid fluctuations in the market.

The broader crypto market fear and greed index is at 33, triggering fund rotation away from altcoin rotation. This came as Bitcoin dominance rose to 59% in the crypto space.

Market participants are treating the drop in price as a buy opportunity, as trading volume has spiked by 9.97% to $205.15 million.

With the “Uptober” rally still in play for some assets despite broader market fluctuation, Stellar might still make one final push for the $0.40 price level. The asset’s volume has eased into the green zone, and sustained momentum from investors could support a bullish climb.