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Price Analysis

Stellar Lumens (XLM) Price Analysis: Stellar Is Substantially Losing Value, Crypto Analysts Point To The Bitcoin’s Thrust

Stellar is still knocking down with no present hopes of getting back in a bullish trend. It has to be mentioned here that the market is highly volatile and everybody is hooked on to see BTC’s fight with $6k height. It is of no doubt that BTC greatly influences all the other cryptocurrencies. Thus, any predictions are not guaranteed, and it can soon get invalidated. It’s always better to see the movement of BTC to assume if XLM can revive or not. The same has been opined by many crypto enthusiasts currently.

So far XLM’s current status is concerned, XLM is still on the bearish trend, and its following information are derived-

  • Present trading value: 0.089308 USD
  • Present market cap: 1,711,549,009 USD
  • Market rank: 9
  • Circulating supply: 19,164,648,708 XLM

Current Statistics:

Stellar Chart

From the above chart, it is seen that XLM is currently getting traded at 0.089428 USD/0.00001424 BTC (UTC time 03:40). Its 24h volume has a value worth of 221,166,839 USD. The same chart also makes it evident that approx 1 month earlier, XLM had a trading point of 0.115788 USD. So, within this duration, the value of XLM has been reduced by -22.76%.

Although there are some reasons which can provide a strong basis to upraise XLM’s value in the future. For example, XLM has been listed in Coin Deal and Coinsquare exchanges, Wirex has partnered with XLM, and it is soon going to launch 26 stablecoins on Stellar’s network and Wevest Digital AG, a Berlin-based company, is going to offer digital investment banking service via XLM.

Predictions and Conclusion:

With the above current updates, it is practical enough to understand that XLM is a potential cryptocurrency. Although it has its own capability, it’s the market volatility and the BTC that will majorly impact its future value. Accordingly, we think that XLM can trade around $0.45 by the end of this year.

Currently, investing in XLM may not be a good idea, and thus, investors must be vigilant with the BTC’s price so that they can take the right decisions accordingly.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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