Stellar Price Prediction & Technical Analysis
The burgeoning Blockchain Technology and Cryptocurrencies Ecosystem worldwide has lots of companies, performers, and new products floating in its peripheral Market. There are a lot of crypto networks and products in the market spurting, growing, and then drowning in their own product lifecycle. Further, to have a broad outlook on one such network, let us probe more into the horizon of altcoin ‘Stellar Lumens.’
Overview of Stellar Network
Stellar is an open-source blockchain network for digital currencies payment and trading. To look into its origination, initially the network system Stellar was formed in 2014 by Jed McCaleb (founder of Mt. Gox and co-founder of Ripple) in partnership along with former lawyer Joyce Kim under the name of a website called “Secret Bitcoin Project” for seeking alpha testers; and then Jed McCaleb officially launched it in 2015. In Stellar’s ecosystem, the investors can create, send, pay, and trade digital depictions of all forms of money such as Rupees, Euro, Pounds, Dollars, Pesos, etc… and along with cryptocurrency bitcoin as well. The main purpose of the formation of this Stellar Network is that all the world’s financial systems can unite together to work on a unified solo network. Stellar is a decentralized system that is suitable for trading in a blatantly and effectively any kind of cryptocurrency.
Further, like other currencies, Stellar also has its own or native digital currency, which is known as ‘the Lumen.’ It does not specifically promote or favors any currency as such rather it specifically makes almost all the majority traditional forms of money in this dispersed financial system more useful and accessible to everyone uniformly, that is for all forms of money a similar digital token money can be created for example depiction of a U.S. dollar currency on Stellar is in the form of a “Dollar Token” (a digital token); thus it is like this that whenever someone deposits a traditional dollar with Stellar, then it will issue them one of the new digital dollar tokens.
The Stellar Development Foundation (the United States-based non-profit organization) is the support system of Stellar web orbit. It constantly directs, guides, and supports the development and growth of the basic Stellar technology on its system. This Foundation aids the maintenance of Stellar’s codebase and as well supports the working and business communities around the network along with communicating to the regulatory authorities and institutions. There are no shareholders of this Foundation, thus this system can be purely committed to the accomplishments of Stellar grid as a neutral, equitable, and public network. This implies that the absolute power of the Stellar system expands with the entry of each new company and developer in its system or network. Stellar is a system with no centralized mandate or power, but even without that the ledgers on the system are verified and updated, every five seconds automatically; which implies that nobody can interrupt, halt or hinder the system and also cannot secretively modify the numbers on their own will, even it is a public network still.
The objective of Stellar Lumens
The Stellar Foundation has envisioned three main broad objectives for the Stellar Lumens:
- To support as well as boost the robustness, security, scalability, and usability of Stellar Network – by increasing Stellar’s stakeholders and greater system participation; by assuring the Stellar’s scalability to handle the increased volume from new use issues; by building tools which will simplify the development for asset issuers, cross-border payment wallets, and securitized asset platforms.
- Establishing the Stellar’s Network as a trusted and well-known blockchain on the global stage – by marketing, promoting, and branding Stellar and its use-cases to increase awareness and drive ecosystem enlargement; by creating documents and guides such as Standard Operating Procedures (SOP) to make construction on Stellar Lumens more independent; by engaging with policymakers, regulators, and leaders around the globe to form a strong as well as transparent network.
- Nurturing and improving the viable Stellar use-cases that will facilitate cross-border payments and securitized assets – by developing a single, simplified and effortless User interface for a cross-border payment wallet; by creating simple, flawless, and unified ways to buy and sell fiat on its network; by ensuring enough liquidity for fiat money that is assembled on the system.
Working of Stellar Lumens
The Stellar Lumens works on a unique algorithm called – Stellar Consensus Protocol (SCP) which facilitates smooth functioning and synchronization of the system. Stellar being a decentralized currency similar to bitcoin as well as too few other altcoins. Everyone is able to set up a verification node (server) on the networks with help of its backbone Stellar Core, which actually does the verification using the Stellar Consensus Protocol (SCP).
Steps on how it works with help of an example: First and foremost, the investor or user has to register himself or herself and provide necessary information/details along with an email address for the verification process to open the Stellar XLM wallet or XLM cryptocurrency account. Then on Firstly, the sender in the U.S. holds dollar tokens and signals to the system that he/she wants to send Peso tokens to another receiving party; then the system searches through the decentralized exchange as mentioned above and finds the best XLM coin price prediction every day for the sender; After the search is completed the network locks in the price today as well as amounts and notifies the sender; After which the sender confirms the transaction, then the dollar tokens are transferred from the sender’s wallet or account to the receiver; Followingly the transaction is executed and the recipient gets the Peso tokens in his/her account. The whole payment transaction is nuclear and rendered to the Stellar Lumens grid as a solo transaction. In this grid, it is not possible for any of the parties i.e. either sender or receiver to get caught in the middle of the transaction or hold tokens.
Features and Benefits of Stellar
- Stellar XLM is an open and interoperable payment and currency source network.
- Stellar Lumens is also a decentralized and independent system.
- Transparency is the principle and belief of this Stellar Lumens coin.
- Stellar XLM is a fast, efficient system for trading, saving, and spending digital money grid for its Users.
- Stellar blockchain is an unrestricted financial infrastructure system.
- Stellar Lumens is freely accessible to everyone on its Stellar Lumens grid.
- There is no need for any permission or application as such to operate in the Stellar Lumens.
- The Stellar blockchain helps in simplifying the fintech products on the Stellar Lumens orbit.
- Peer–to–Peer tokens can be traded on this Stellar Lumens.
- Users can issue their own assets on this Stellar Lumens.
- Users can transform currency on the Stellar Lumens as soon as it is sent on the Stellar Lumens grid.
Overview of Stellar Lumens (XLM) Price Prediction 2021
Stellar Lumens (XLM) is the native cryptocurrency of Stellar, a blockchain platform that allows the exchange of digital to fiat currency. It is an altcoin cryptocurrency trading under the symbol XLM on trading exchanges. Stellar Lumens (XLM) was first introduced in the year 2014 and since then it has been in the list of Top 20 Cryptocurrencies as per the latest research report of September 2020. Stellar Lumens (XLM) is the coin that’s used on the Stellar Network’s blockchain platform. Currently, the XLM price is approximately USD 0.0796 or 0.08 (as of the end of October 2020). Likewise, all other altcoins even Stellar Lumens (XLM) one side have their own Advantages such as – Fast, Quick, Speedy, Cost-effective, Easy currency exchange, easily accessible, decentralized platform, Fully Transparent system, Seamless transaction possible, etc… On the other side, it has its own disadvantages as well such as Mining is not possible as it doesn’t use the Proof-of-Work system; Not widely accepted as a payment method.
A Historical Data of Stellar Lumens Price Predictions
The current price of XLM cryptocurrency as per reports of October 2020 XLM is USD 0.0796 or 0.0800 approx. per unit per share. As to probe into XLM coins history, future price analysis, forecasts & price predictions, soon shortly after its initial coin offering (ICO) on 15th September 2014, the price of XLM was USD 0.003. After which, it performed badly and was at its lowest in at USD 0.001. Again, in early 2018, XLM’s value reached an all-time high but a brief spike of USD 0.94 approx.
After the all-time brief spike in early 2018, Stellar Lumens price once again fell into a bearish situation and again by the end of the year, it had more fallen over by more than 90% i.e. to USD 0.09 and remained almost in the same range for the whole year, at max with the high USD 0.16 in the year 2019. Barring which the year 2019 was unbelievably bad for Stellar Lumens XLM price in lieu of performance, market cap and also gained bad performance reputation in the market. After such a drastic price fall, most of the Stellar lumens price analysts thought that this crypto is dead.
As compared to 2018 and 2019, the performance of Stellar Lumens price slightly improved in early 2020 but again during this global pandemic it fell again to its low of USD 0.03, but it is still significantly more valuable than in the first couple years of its existence. Further, the factual price trend is shown by XLM coin as per market cap and XLM price trend resistance level at the end of October 2020 XLM cryptocurrency was trading at around USD 0.082, which was approximately 30 percent – 35 percent lower than the XLM 52-weeks high of USD 0.118 as compared to on August 17, 2020, and USD 192 percent higher than the 52-weeks low of USD 0.028 as compared to on March 12, 2020.
Thus, the trend suggests that even though the coin has always seen ups and downs, but it has never drowned completely, and hence, there is always for it to rise up in the competitive ladder. Further, few other economic forecast agency and financial services forecast that after almost five years of struggle the trading volume, growth, and stellar coin price share / XLM s price target will see an all-time high at the end of 2020.
Stellar Lumens Price Predictions for the Next 5 years
Stellar Lumens price prediction 2021 from the perspective of the industry experts and analysts of this field of cryptocurrency as well as the financial ecosystem predict that Investors can look upon XLM to USD as an altcoin that will provide passive investment returns. Looking at the price history and Stellar lumens price forecast, it can be stated that the XLM price may pop – out as a Dark Horse in the Race. There is also speculation as well as future Stellar lumens price prediction that its substantial increase over the past year states that Stellar Lumens price can be projected to be in the high of 0 .65 USD – 0 .075 USD in 2021 and by the time 2025 comes, the price might go up in the range USD 0.94 – USD 1.00.
Stellar Lumens Price Prediction for 2021
The Stellar price is predicted to touch $0.075 by the end of 2021. The predicted high for 2021 might be around $0.089 and on the downside, the low might be around $0.065.
Stellar Lumens Price Prediction for 2022
The Stellar price is predicted to touch $0.104 by the end of 2022. The predicted high for 2022 might be around $0.12 and on the downside, the low might be around $0.09.
Stellar Lumens Price Prediction for 2023
The Stellar Lumens might continue the upward trend and by the end of 2023, it would be able to touch the price of 0. 12 USD. The predicted high for 2023 might be around $0.162 and on the downside, the low might be around $0.11.
Stellar Lumens Price Prediction for 2024
As per the Stellar Lumens predictions for 2024, the currency might touch $0.14 by the end of the year. The predicted high for 2024 might be around $0.17 and on the downside, the low might be around $0.14.
Stellar Lumens Price Prediction for 2025
As per the XLM price prediction for 2025, the coin might touch the high of $0.20 while on the downside, it might fall up to $0.12. As per our prediction, the XLM price might be trading around $0.19 by the end of 2025.
Further, considering the technical analysis, market capitalization, and XLM price prediction for 2020, as well as upcoming years’ future price market prediction for XLM/USD, implied that this cryptocurrency can be expected to have a growth of almost 100% per unit or per share in the near future with hope to expand beyond the stated achievable XLM price prediction target.
XLM is an altcoin of the decentralized, independent, and open–source network known as Stellar that works on the Stellar Consensus Protocol (SCP) algorithm. It is supported and facilitated by The Stellar Development Foundation (a US-based non-profit organization). Further, looking at the trend of this altcoin XLM news today and right from its inception has always been somewhat in the negative performance chart. However, it has always managed to be the one in the list of top 20 altcoins even with its performance and in this highly competitive market.
Considering the post-COVID crash into account and Cryptocurrencies by market conditions it can be stated that it is a short-term or Mid-term (less than a year) good investment asset but not a long-term crypto market investment tool. Investors cannot rely upon it as a long term price investment option only, however, as per the Stellar Lumens news reports and Stellar price prediction for 2020, its price action may change and it may achieve its price target and forecasts, thus in the purview of the same in future, XLM may become a long-term investment option for traders. However, Stellar can be considered as one of the investment options in this digital investment market, and also XLM was one that received the high crypto rating along with few other crypto assets.