Stellar Lumens: XLM regains momentum – reasons for the 160%-rally

During the last days, the crypto market took a break in its upward trend to move into a consolidation phase. During this weekend, however, the upward momentum seems to have returned. And again, Stellar Lumens‘ native cryptocurrency, XLM, is one of the best performers within in top 20 by market cap.

After recovering from a drop a week ago, XLM is at its annual high of $0.19 with a sideways movement in the last 24 hours. On the weekly and monthly chart, XLM is recording significant gains atwith 83.43% and 157% respectively. One of the reasons for the rally was certainly the price development of Bitcoin.

By achieving a high level of institutional adoption, BTC seems to have led to a new boom in the interest generated by cryptocurrencies to new investors. At the time of publication, Bitcoin has again managed to break the important $18,000 mark. Traders like Josh Rager have predicted a continuation of the upward trend for BTC if it manages to stay above that level.

Otherwise, the cryptocurrency could crash to levels it saw in the middle of the year. The price of XLM could follow it in any direction. In that sense, analysis firm Cryptowatch stated:

Despite Stellar correcting lower 37% from it’s $0.23 top, XLM has bounced back over 11% today & 30% since its recent $0.145 low. XLM’s daily-RSI is still ‘overbought’ and now rising.

Source: https://twitter.com/cryptowat_ch/status/1332305098316390400/photo/1

The price of XLM rises with its adoption

As reported by CNF, Stellar Lumens recently has had a number of important announcements that have undoubtedly influenced the price of XLM. For example, Settle Network has launched two stablecoins based on the currencies of Argentina and Brazil. The stablecoins are supported by Stellar’s blockchain.

In addition, the Stellar Development Foundation (SDF) announced an update for the blockchain protocol that will bring new features to Stellar Lumens. Protocol 15, as they have called the update, will allow for the integration of applications and services that are “more attractive to a wider audience,” as the SDF stated.

Furthermore, analysis by the firm Santiment shows that XRP, ADA, and XLM have seen a significant increase in their “social volume”. That is, the amount of searches and mentions they have had in social networks has increased with their price. Although this metric has been decreasing, they are still among the main trends in the crypto industry. Santiment says:

$XRP is somewhat cooling off after its fantastic +160% rally, but that hasn’t slowed it down from continuing to be the #1 #crypto topic, according to @santimentfeed metrics. $XLM, $XVG, and $ADA are also getting a significant uptick in discourse.

Source: crypto-news-flash.com

Comments

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry. The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling. Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk about cryptocurrency,

Will Solana (SOL) Be the Shining Star of the Bull Market?

About 250,000 to 700,000 SOL have been sold daily by FTX for the last three weeks. SOL’s price jumped above $60, as GSOL’s premium also increased. While the price may retrace, it may not take long before SOL hits $70. Despite being a notable casualty of the FTX contagion in 2022, Solana (SOL) has defied all odds in 2023, as the price continues to outshine its peers. In the last 30 days, the value of SOL has increased by 180%, rising as high as $62 on November 11. However, the rising price of SOL is not the only interesting thing the token has shown by the token. For a token that was once described as dead, it has shown tremendous strength. Coin Edition came to this conclusion because of a post by trader Bluntz Capital. The Big Players Are Here According to Bluntz, FTX, after getting the go-ahead to liquidate its assets, has been selling around 250,000 to 700,000 daily for the last three weeks. Regardless of the sales, SOL has failed to nosedive. Rather, the price has chosen the upside

Terra Classic Community Passes Major Constructive Proposal, LUNC And USTC To $1?

The Terra Luna Classic community has passed another key proposal as they prepare for a revival of Terra Luna Classic (LUNC) and repeg USTC stablecoin to $1. The proposal aimed at having a guideline for a pay-per-job approach on the Terra Classic chain as core developer L1TF goes into maintenance mode for Q4. Meanwhile, the community is also collaborating on other fronts to keep LUNC and USTC above key support levels as traders started booking profits amid the latest pullback in the crypto market. Terra Luna Classic Passes Pay Per Job Proposal Proposal 11889 “Pay-per-job and governance-ruled Job List” has passed successfully. The proposal deemed the monthly model of roadmap and payment planning as suboptimal and plans to switch to a pay-per-job model. The proposal has received 91.99% “Yes” votes, with others mostly voting “Abstain”. The community believes it will optimize compensation structure, provide flexibility and transparency, boost community engagement, and risk mitigation. A

Crypto Ethone

Search This Blog