Price Analysis

Stellar Lumens (XLM) Price Analysis: Does Stellar Really Have Any Future?

eToro

The network of Stellar is a pragmatic blockchain project that is aimed to bridge the gap between the centralized financial institutions and decentralized cryptocurrencies. It is unique for its own consensus method. It primarily integrates Distributed ledger Technology into existing financial infrastructure. Although it offers advantages to everyday users, financial institutions, banks, and organization can gain the most of their profit from the system that Stellar provides.

Current status of XLM

XLM is currently getting traded at $0.116233USD, and it is currently on a bull trend by 6.61% (UTC 05:48). With a market cap of USD 2,237,343,318 and a circulating supply of 19,248,768,537 XLM, Stellar Lumens is the 8th largest cryptocurrency in the crypto sphere.

eToro Crypto

Price analysis of XLM on the basis of Stellar charts

Stellar LumensThe above chart shows that XLM is currently getting traded at 0.115509 USD or 0.00002451 BTC (UTC time 05:53). Its current market cap is worth of 2,223,399,053 USD with a 24h volume of 414,686,829 USD. The same chart shows that approx. One month earlier, XLM had a trading value of 0.087576 USD. So, within this one month, the value of XLM has increased by 31.89% with 0.107990 USD as a good support resistance.

Future price predictions of Stellar lumens or XLM

It is a fact that XLM’s value is also tied to the price of BTC, so, if the market experiences another bull, XLM will definitely rise but, as this is really unlikely to happen, many analysts believe that there is nothing much to expect from it this year. According to Long Forecast, XLM is predicted to reach $0.30 by 2019 end, which is not very high than its current price. According to Mega Crypto, XLM can reach $5.10 by 2019 end, and this can be done only if there are no major security flaws in the stellar network. Monetize Info predicted that XLM could trade around $2-$ three by this year and this can be facilitated by its partnership with Stripe, Deloitte, and IBM.

Conclusion

The crypto market being highly volatile currently, it is very unpredictable to say anything clearly. Until the market attains stability, it is not a good idea to invest in XLM for long term basis.

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.

Related Articles

Back to top button