Stellar Lumens (XLM) Price Analysis : Stellar’s Comprehensive Market on a Steady Amplification
The Stellar network is a blockchain based distributed ledger network which connects financial sectors, payment systems, and people and facilitates low-cost cross-asset transfers of value. Stellar is the blockchain, Lumen is the cryptocurrency, and their trading symbol is XLM. 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. The key distinctive feature is its consensus protocol, which made stellar an open source system.
According to the stats from CoinMarketCap, Stellar (XLM) is the 8th largest cryptocurrency whose market cap trades at $2,099,225,640 USD for the 24h volume of $156,775,060. The mcap value is higher than its relative value of USD 1,540,118,392 on February 10 at 10:34 UTC by 36.30%. The mcap value traded at 2100 million USD at the beginning of 2019 crossed 2400 million USD in 9 days. The market collapsed after its all-time high and had been a downtrend. It traded at its lowest on February 08 for a value of USD 1,423,646,928, which is 47.45% lower than the current value. The value of the cryptocurrency started increasing gradually and reached a high of USD 2,110,934,630 compensating for the loss during the downtrend period. This percentage difference between the all-time high and low of MCap value is 48.28%. The market is on an uptrend. Both the 20-day EMA and the 14-day MA stands in proof of the uptrend. The values rose from $1,654,910,717 on February 26 for the 20-day and from $1,611,676,386 on March 04 for the 214-day MA. The percentage differences are 26.85% and 30.25% in comparison to the current value. There has been a noteworthy increase in values with both the moving averages. This forces the cryptocurrency into bullish market pressure.
Coinmarketcap reports show a detailed analysis of the pricing moments of the cryptocurrency. The current price of USD is $0.109217, and that of BTC is 0.00002724 on March 18 at 13:14 UTC. The MCap/USD pair has been on a similar wave along with BTC mostly, with brief overlapping of the price of BTC with MCap and USD separately. Along with MCap values, the price of USD reached its all-time low on of $0.074270 on February 08 and high on March 14 with a value of $0.109855. The current price is closer to its all-time high and is higher than it’s lowest by 47.05%. The cryptocurrency reached its milestone with the price of USD rising from $0.078205 on February 18 to $0.095973 on February 24 with an increase in the percentage of 22.72% in a span of 06 days. Bitcoin’s price analysis trend does not match the MCap/USD pair. The price reached the lowest on February 18 with the value of 0.00002127 and the highest of 0.00002845 on March 14. The percentage differences with the current value are 28.07 and 4.44% respectively.
With both the averages on a positive rise and the overall market showing a significant increase, the bulls hold an upper hand. The balance favors the buyers both long-term and short-term. Hence, according to Stellar Prediction, investors and traders should move forward with their investments to earn huge benefits. The stability in the increasing trend will work beneficially in terms of profit.