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Price Analysis

Stellar (XLM) Price Analysis: Success Of StellarCluster Meetup At NYC To Bring Back Bullish Trends

  • Stellar’s partnerships with companies like IBM & Deloitte should contribute to the upward movement of the coin shortly
  • Stellar team hosted StellarCluster at NYC yesterday (May 7, 2019) which brought together thought leaders and crypto enthusiasts on a common platform

Founded in 2014 by Jed McCaleb (co-founder of Ripple), Stellar is a centralized blockchain based network for cross border transactions. The platform can be used to transfer small to a large amount of money or assets safely without any third party intervention. The currency used by the platform is called as Lumens and represented by XLM.

Current Statistics:

Stellar Price Chart (01.01.2019 - 08.01.2019)

  • The market cap of Stellar is over 1,840,850,645 USD as on May 08, 2019 at 01:49:00 UTC
  • The ROI of the coin (XLM) stands at 3,070.40%
  • Stellar is ranked at the 9th position in the top 100 cryptocurrencies list by the CoinMarketCap
  • The price of the coin is trading at 0.096 USD & 0.00001626 BTC
  • The 24 h volume has been 205,195,095 USD
  • Currently, the circulating supply of the coin is 19, 162, 820,680 XLM

Comparison:

As on April 08, 2019 at 07:39:00 UTC, the market cap of Stellar was 2,590,421,632 USD, the price was trading at 0.13 USD & 0.00002546 BTC and the 24 h volume was $367,997,103 USD. Stellar has been on a bumpy ride with few highs since the beginning of 2019 however the price of the coin is falling since mid-April. A down phase of over -26% is being seen in the past 30 days with the highest recorded value of the coin as 0.13 USD.

Stellar Price Prediction until 2020:

Recently, the IBM network collaborated with over 5 plus banks to move their transactions to the Stellar technology. Stellar has also recently tweeted about its network being used by over 150,000 accounts daily. The team recently conducted an event to discuss blockchain in business at the StellarCluster Meetup in NYC on May 7, 2019, and witnessed good participation. The coin is expected to cross the resistance level of over USD 0.15 by the end of this quarter, and the next resistance level will be around USD 0.20. The price of the coin can reach as high as USD 5 in the next 2 years.

Conclusion:

The value of Stellar coin is currently trading low and can be targeted now for long term investments as it is expected to bounce back soon.

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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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