Price Analysis

Stellar Lumens (XLM) Price Analysis : Stellar Lumens on a Steady Path to Prosperity

The Stellar network is an efficient blockchain that acts as a bridge between the extreme worlds of decentralized cryptocurrency and traditional, centralized financial institutions. Stellar uses its own unique consensus method called the Stellar Consensus Protocol, which stands out in the blockchain ecosystem in a traditional sense. It aims at integrating distributed ledger technology and the already present financial infrastructure. Stellar is operated by a non-profit organization and was introduced as a cross border transfer and payment system that connects financial entities. This network reduces transaction costs and time lags significantly. It primarily focuses on developing communities outside the scope of banking services.

Stellar LumensStellar’s market cap value was trading at USD 2,076,605,431 on March 28 at 08:39 UTC. XLM is getting traded at 0.107942 USD. This is based on the circulating supply of 19,238,132,192 XLM coins out of a total supply of 104,842,370,964 XLM. Based on the coins’ market cap value, Stellar is ranked the 8th largest cryptocurrency in the crypto world. The present price of XLM equals 0.107784 USD or 0.00002648 BTC at 11:44 UTC. Also, the Mcap is getting traded at USD 2,073,568,070 for its 24 hours volume of $290,032,879. Comparing to the highest value on March 19 at 04:39 UTC, with the mcap value of USD 251,844,208 and the price per coin of 0.117142 USD or 0.00002902 BTC, the present day value has dipped by an insignificant percentage of 8.60%. The current value of USD at 0.0.107784 shows an increasing percentage from its lowest of 0.077969 USD on February 07 with an increasing percentage of 38.24% remains as a good support resistance. The 20-day EMA also stands in support of the growth of the market with the values increasing from USD 1,677,285,447 on March 08 and a growing percentage of 23.63%. The bulls are in the rule for the current market.

Predictions by Long Forecast states that the Stellar’s market would face a downfall by the end of 2019. The declination is estimated to be 33.75% reaching a price value of 0.08 USD. However, the long term forecasts expect a rise in the market by the end of 2022 to a price value of 0.33 USD. Wallet investor has also analyzed the market trend and expects an increase up to 1.005 USD by 2024. XLM cryptocurrency is going to be traded on all major exchanges in the upcoming future, which could be the reason for the hike in values. Mega crypto has been very optimistic about this cryptocurrency and estimates a hike percentage close to 5000% from the current value and reach its peak price of 5.10 USD by the end of 2019. The technical analysis team believes that this price is achievable if the currency’s overall sector performance does not change and no major security flaws come up.

However, the current market’s behavior portrays a positive conclusion. Buyers are appealed to Stellar’s efficient working along with the bulls pressure on the market. This gives a high hope for the improvement of the value of the currency further in the future. At this growth rate, the predictions for the booming price values by the end of 2019 will become a reality. This credible situation will enable investors to attain maximum benefit from their investments on this digital currency.

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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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