![]() ![]() Powered by blockchain, the platform is able to offer a decentralized service without any owner that is a faster and less expensive way of sending and receiving money.Īt the launch of the Stellar network, its native crypto was known as Stellar, but the name was later changed to Lumens ( XLM). ![]() The main goal of the Stellar network is to provide access to financial services to people across the globe, regardless of their income level. What Is XLM?Īccording to the World Bank, 31.5% of the world's population is without access to a bank. Today, we're looking at the allure of Stellar Lumens and why it could be a worthwhile addition to your portfolio. In order to maximize profits on any cryptocurrency, it is important to know how and why the coin was developed, the coin's price history, and what makes it stand out in the crowded field of alt coins. Investors are often attracted to penny cryptocurrencies such as XLM because they offer an inexpensive way for new investors to get started investing in crypto, while at the same time offering potentially huge profits to experienced traders who can anticipate the next big upward swing and properly time their investment. Through Stellar, the unbanked are able to store wealth and make transfers at extremely low costs. On the user side, the Stellar network and XLM are especially popular among those without access to traditional banking. The network's capability of international transactions involving any two currencies has investors closely following every new XLM price prediction. Servers around the world record and store all transactions on the Stellar network. If this happens, the next key level to watch will be the psychological level at $0.50, which is about 30% jump from the current level.Stellar Lumens ( XLM) is the native cryptocurrency of the Stellar network, a blockchain platform that allows the exchange of digital to fiat currency. Therefore, in my view, I suspect that the XLM price will keep rising as demand for cryptocurrencies bounce back. The coin is also approaching the 50% Fibonacci retracement level. The coin has already moved above the 25-day and 50-day moving averages, which is a bullish thing. This happened after the coin found a strong support at $0.200. Now, turning to the daily chart, we see that the coin has been in a strong bullish trend in the past few weeks. This is notable since it signals that traders are still interested in the coin. Data shows that the volume of Stellar Lumens traded every day has jumped to more than $1 billion in the past five straight days. With all altcoins like Cardano and Polkadot rises, investors have scooped Stellar hoping that its price will keep rising.įinally, there is strong demand for the coin as evidenced by the volume. Second, the Stellar price has risen because of the overall recovery of cryptocurrencies. The relationship was put on hold because of the ongoing lawsuit. As you recall, Ripple had already partnered with MoneyGram to offer its On-Demand Liquidity (ODL) product. It will also give it the scale it needs to compete with Ripple. While the news has not been confirmed, investors are optimistic because it will legitimize the ecosystem. The foundation is partnering with Advent International to make the purchase. In my view, the most important one was the recent rumour that the Stellar Foundation was in talks to acquire MoneyGram. There have been three primary catalysts for the XLM prices recently. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |