The native cryptocurrency of the Stellar network XLM is making a quick recovery from its downtrend.
Although the asset has been down for weeks, its recent bullish signs have given hope to investors that want to buy XLM.
This article provides an analysis of Stellar’s projected growth and its prospects for the future.
The XLM Token Of The Stellar Blockchain
Stellar is an open-source blockchain platform focused on facilitating cross-border payments.
The network was launched in 2014 by Jed McCaleb, a co-founder of Ripple.
Stellar is aimed at helping financial firms connect through blockchain technology, although its initial goal was to boost financial inclusion by reaching the world’s unbanked.
News
On May 13, Elon Musk sent shockwaves across the crypto markets by revealing that Tesla will no longer accept any BTC payments for cars until Bitcoin mining becomes more environmentally sustainable.
Musk notes that while Tesla waits for Bitcoin to move to renewable energy, the firm will be looking at “other cryptocurrencies” that use less than 1% of Bitcoin’s energy per transaction.
The tweet sent much of the crypto community into a frenzy of speculation as to what other crypto assets Tesla may be exploring.
Social influencer “The Cryptic Poet,” told his 45,000 Twitter followers that he predicts Tesla will “either use ETH or XRP,” however user “Massimo” pointed out that if Tesla uses ETH in its current state which uses Proof-of-Work just like Bitcoin does it might as well be “staying with BTC.”
Monero (XMR) breaks $300 resistance, here are levels to watch
April 13, 2021
The privacy-oriented digital asset previously gained over 12% and 59% in March and February, respectively
For the first time in 3 years, XMR price has been able to move above $300 resistance as bulls now aim for $375
Monero (XMR) price has continued to rally higher as the price action now trades at a 3-year high above the $300 handle.
Fundamental analysis: Developer accuses MobileCoin of borrowing code
Monero’s lead maintainer Riccardo Spagni has accused MobileCoin of borrowing Monero’s code without acknowledging its origins.
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If the Stellar price falls below $0.150, it would be a strong sell signal
Germany s oldest banks announced that it would launch the EURB stablecoin on the Stellar network
All major cryptocurrencies are losing their value this trading week, and the price of Stellar (XLM) is also under pressure. Bitcoin is trading again below the $18000 level, indicating that the price could weaken even more.
Fundamental analysis: Germany’s oldest banks announced that it would launch the EURB stablecoin on the Stellar network
Stellar price is down more than 20% since the beginning of December, and the current price stands around $0.156. Bitcoin’s price is trading again below the $18000 level, and some analysts say that the cryptocurrency market is not even close to a bottom.