Exploration of Stellar’s expanding Market

The Stellar network is a blockchain based distributed ledger network which connects financial sectors, payment systems and people which facilitates low-cost cross-asset transfers of value. Stellar’s cryptocurrency is called Lumens and id denoted with symbol XLM. Stellar is the blockchain, Lumen is the cryptocurrency, and their trading symbol is XLM. Stellar is operated by a non-profit organization and was introduced as a cross border transfer and payment system that connects financial entities. This network reduces transaction costs and time lags significantly. Each transaction is charged a standard fee of 0.00001 lumens. Its primary focus is on developing economies in remittances and bank loans especially for those who are outside the scope of banking services.

Stellar’s works are similar to other decentralized payment platforms. The key distinctive feature is its consensus protocol, which made stellar an open source system. With this protocol, the transaction authentication process is confined to an exclusive set of trustworthy nodes, and it is not available for the whole network of nodes. This approval cycle is instantaneous which makes the transactions faster and transaction costs lower. It also supports a distributed exchange model, where payment can be done with a different currency than the holding currency, and the network does the forex conversion at the best rates.

Stellar Chart


Based on the analysis by CoinMarketCap, Stellar (XLM) is the 8th largest cryptocurrency. The Market Cap value of Stellar is trading at $1,636,263,714 USD for the corresponding 24h volume of $123,387,037 on February 26 at 11:39 UTC which is relatively higher by 15.55% than the MCap value of 1,416,096,921 on February 07 at 06:39 UTC. The MCap values have been going downtrend after its all-time high on January 08 of $2,459,180,829 (20:34 UTC). The current value shows a drastic declination by 33.46 percent from its all-time high. The market had been going down the hill between January 08 and February 08, with the lowest value of $1,416,096,921 on February 07 at 06:39 UTC. However, the market started improvising subsequently. The 20-day EMA establishes the progress with the current value higher than the EMA by 15.19%. This gives the bulls the upper hand.

Stats from Coinmarketcap also exhibit the price of USD and BTC. The current price of USD is $0.085314, and that of BTC is 0.00002211 (February 26 at 11:39 UTC). The analysis shows that the MCAP/USD pair coincided with each other until the market values went downtrend. After that, the MCap took the lead due to the gradual increase in values. However, the price of USD has been on a major fluctuation. The rate of USD went as high as 0.128327 on January 07 and dipped as low as 0.073709 on February 07 with a downfall of 42.56 percent in a month. Unlike USD, the price of BTC has been range bound. Though the price is on a downtrend too, the variation in values has been comparatively lesser. It shows a 30.05% decrease from its all-time high of 0.00003166 on January 10 to its current value. However, the cryptocurrency reached a milestone when the price of USD rallied from $0.077969 on February 17 to $0.096577 on February 24 with a 23.87% hike within a week’s time.

The 14-day EMA shows that the market value is up by 9.05 percentage. Though the EMAs point the cryptocurrency’s market towards bullish pressure, the percentage rise has been inconsequential and hence the market points in favor of the sellers. As per Stellar Lumens Price Prediction, traders who would like to create a long position are advised to remain on the sideline until there are static growth and a significant increase in the market value of the cryptocurrency.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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