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Price Analysis

Stellar Lumens (XLM) Price Analysis: Bullish Pressure on Stellar’s Market Attracts Investors

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Stellar is a decentralized protocol which facilitates monetary transactions instantaneously around the globe with negligible costs. It primarily focuses on individuals, globally, who do not have the benefit of accessing the basic financial institutions. Stellar was developed by one of the co-founders of Ripple, in 2014. XLM denotes its cryptocurrency, and 100 billion tokens were created during the launch. Initially, Stellar used Facebook for authentication and rewarded early joiners with 5000 XLM coins. It takes less than 6 seconds for one transaction to be complete, and the transaction costs about 0.0001 XLM. The total supply of coins grows by 1% every year, making Stellar an inflationary currency.

Current Statistics

StellarXLM coins are being traded at 0.126717 USD on April 09 at 14:39 UTC for its relative MCap trading at USD 2,441,872,296. Based on these stats, Stellar is the 8th largest currency in the crypto market. This is also evaluated based on the circulating supply of 19,270,265,728 XLM coins out of a total supply of 104,882,366,062 XLM and its corresponding 24h volume of $322,884,106. Coinmarketcap assesses the proximate return on investment (ROI) for this cryptocurrency to be 4,163.17%.

Market Analysis

Stellar’s overall market has been on a gradual increase. The market capitalization traded at USD 1,714,200,482 at the beginning of March and has risen to USD 2,058,007,581 by March 31 at 22:39 UTC. The market increased by 20.06% in one month time period. Stellar also recorded a significant increase during the first week in April 2019, when the price spikes took place across the crypto market. The trading price of 0.108611 USD along with the Mcap value of USD 2,090,565,641 on April 02 at 02:39 UTC bounced to their relative values of 0.131840 USD and USD 2,539,466,157 on April 04 at 02:39 UTC. The values inflated by 21.39% and 21.47% respectively. The current values have been similar and stable, with a negligible dip from the peak value.

XLM’s Price Prediction

Stellar’s market looks more profitable in the future.  Analysis from beincrypto forecasts an increase in the price of XLM coins to 0.1-0.2 USD by the end of 2019 and further an increase to 35-45 USD by December 2020. Technical Analysis from theoofy suggests that there will be an increase in price up to 0.30 USD in 2019 and further increase up to 0.70 USD by 2020. Long term prediction expects XLM to cost 1.20 USD per token by the end of November 2025.

Conclusion

Stellar is currently in favor of the buyers both long term and short. XLM’s market poses to be a long term profitable investment. The gradual and continual increase in market trend is in support of the price escalations in the future.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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