Mathisen Marketing

Your Marketing Blog

Stellar (XLM) on a Rise 7%: Ongoing Network Developments in Play

Stellar lumens buy

As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Join us Telegram channel to keep up to date with the latest news

Despite the rapid loss of momentum in the crypto market, the Stellar (XLM) coin maintained its recent uptrend and remained strong at the $0.1165 level. Stellar (XLM), a fork of the Ripple coin (XRP), saw its price rise the previous day, gaining ground against Bitcoin (BTC) and Ethereum (ETH).

XLM price has risen dramatically in the last two daily candles after a modest pullback from the 20 exponential moving average (EMA) line. However, its rising trend may be due to the Stellar team’s goal to focus on three critical building blocks: improving network scalability and innovation, increasing network engagement, and promoting diversity and inclusion.

Stellar Protocol 19 was updated in June 2022, adding payment and critical return channels. Stellar is also working on Project Jump Cannon, which aims to provide a reliable execution environment for smart contracts. As a result, such advancements and innovations would almost certainly increase the credibility of Stellar users.

Conversely, the bearish crypto market, fueled by constant interest rate hikes, was seen as one of the main factors limiting Stellar’s coin’s gains. At the same time, the strength of the US dollar limited the gains.

Stellar (XLM) Price Review and Tokenomics

Stellar is currently priced at $0.116611 with a 24 hour trading volume of $172,605,916. In the last 24 hours, Stellar has fallen by 1.58%. CoinMarketCap is now ranked #25 with a live market capitalization of USD 2,969,151,293. There are 25,462,021,207 XLM coins in circulation and the max supply is 50,001,806,812 XLM coins.

Network progress

Stellar, as we all know, is a decentralized blockchain technology platform that facilitates cross-border money transfers. Lumens (XLM), its original cryptocurrency, is the foundation of the financial system. Stellar caters to individuals rather than institutions as it allows the transfer of small amounts.

Stellar is popular with customers due to its straightforward and user-friendly interface. It’s also very fast, with cross-border transactions completed in just 5 seconds. It, like all blockchains, is decentralized and no single entity has complete control over the network.

The Stellar team plans to focus on three critical building blocks at that time: increasing network scalability and innovation, increasing network participation, and promoting diversity and inclusion. It is worth noting that Stellar’s Protocol 19 was recently updated in June 2022, adding payment channels and critical return channels.

Stellar is also working Project Jump Cannon, which aims to provide smart contracts with a stable execution environment. However, this year many cryptocurrency exchanges, including WhiteBIT, CoinMe, and Mercado Bitcoin, are allowing USD-back stablecoin transactions, expanding access to USDC in Stellar.

Tamadog OKX

Stellar Collaborate with Global Economic institutions

Stellar has made a significant contribution to global financial inclusion. It focuses in particular on improving the management of microfinance. In addition, it has worked with financial institutions such as FinClusive to facilitate and enhance financial transactions through banking networks. In addition, it is partnering with various financial institutions worldwide to shape the future of a cryptocurrency-friendly financial system.

Any financial institution can connect to Stellar to avoid developing their payment gateway. This feature adds to the creativity and specialized nature of the procedure. In addition, the costs for both platforms and consumers are low, making Stellar a popular choice among many large financial institutions. This integration connects these global actors so that interoperability and communication between heterogeneous systems becomes natural and simple.

As a result, these developments and innovations increase user confidence in Stellar.

Eco-friendly crypto

XLM is one of the most environmentally friendly cryptocurrencies. Its consensus methodology is faster than PoS and PoW, making it a popular choice among many investors. Stellar’s key features, such as strategic collaboration and simplicity, make XLM one of the most reliable crypto investments.

Most influential in XLM’s future is its expansion as a payment network.

A bearish crypto market and a stronger US dollar

Since the beginning of the week, the cryptocurrency market has been flashing red and continues to trade volatile due to weak global stocks and fears of a recession in key countries such as the US and Europe.

The US Federal Reserve’s aggressive inflation strategy further dampened sentiment. This was after the Fed raised interest rates by 75 basis points. Stocks on Wall Street and Europe fell sharply last week as oil prices fell and bond yields hit multi-year highs.

Meanwhile, the US dollar has crossed the 111 level against a basket of currencies, making cryptocurrencies vulnerable to the dollar. The number of cryptocurrency transactions is currently collapsing. However, the global crypto market has fallen 37% in the last 24 hours to $49.82 billion. As a result, the decline in the cryptocurrency market was seen as one of the key factors limiting the rise in the prices of the stars.

Related

Tamadoge – Play and earn meme coins

Tamadog logo
  • Earn TAMA in battles with Doge Pets
  • Limited Supply of 2 Billion, Token Burn
  • Advance sales raised $19 million in less than two months
  • Upcoming ICO on OKX Exchange

Tamadog logo


Join us Telegram channel to keep up to date with the latest news



Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

  • Startup Wins The Race To Launch The ApeCoin NFT Marketplace

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase A small startup has won a competition to launch an ApeCoin NFT marketplace that caters specifically to the Ape community. The startup, Snag Solutions, is run by two people who are former DoorDash employees. They faced established and well-funded startups […]

    Read More

  • Shell Inaugurates 55th National Student Art Competition, Promotes NFT, Crypto Art, Digital Adoption

    Shell Inaugurates 55th National Student Art Competition, Promotes NFT, Crypto Art, Digital Adoption

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase Subscribe to our newsletter! Surgery by Nathaniel Cajuday In its first installment, Shell Petroleum Corporation’s 55th National Student Art Competition (NSAC) Virtual Art Interact led the event with a topical talk that taught budding artists to embrace innovation and showcase […]

    Read More

  • Oryen Network Will Be Huge In The Crypto Space, Bigger Than Maker Or Convex

    Oryen Network Will Be Huge In The Crypto Space, Bigger Than Maker Or Convex

    Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase If your portfolio is still reeling from the FTX collapse, you’re not alone. And these market conditions might make you think twice about investing in a new project you’ve probably never heard of. But missing out on ORY at presale […]

    Read More