XLM Price Prediction & Technical Analysis

The burgeoning Blockchain Technology and Cryptocurrencies Ecosystem worldwide has lots of companies, performers, and new products floating in its peripheral Market. There are a lot of crypto exchange networks and products in the market spurting, growing, and then drowning in their own product lifecycle. Further, to have a broad outlook on one such network, let us probe more into the horizon of altcoin ‘Stellar Lumens.’ Here you get details about XML and Stellar Lumens Price Prediction & Technical Analysis.

Stellar Lumens Overview

Cryptocurrency Stellar
Ticker Symbol XLM
Price $0.1381
Price Change 24h +10.29%
Price Change 7d +0.33%
Market cap $3,385,055,864
Circulating Supply 24,888,766,300 XLM
Trading Volume $230,444,269
All time high $0.9381
All time low $0.001227
Stellar ROI +4485.12%

Overview of Stellar Network

Stellar is an open-source blockchain network for digital currencies payment network and trading. To look into its origination, initially the network system Stellar was formed in 2014 by Jed McCaleb (founder of Mt. Gox and co-founder of Ripple) in partnership along with former lawyer Joyce Kim under the name of a website called “Secret Bitcoin Project” for seeking alpha testers; and then Jed McCaleb officially launched it in 2015. In Stellar’s ecosystem, the investors can create, send, pay, and trade digital depictions of all forms of money such as Rupees, Euro, Pounds, Dollars, Pesos, etc.… and along with cryptocurrency bitcoin as well.

The main purpose of the formation of this Stellar Network is that all the world’s financial systems can unite together to work on a unified solo network. Stellar is a decentralized system that is suitable for trading in a blatantly and effectively any kind of cryptocurrency exchanges.

Further, like other currencies, Stellar also has its own or native digital currency, which is known as ‘the Lumen.’ It does not specifically promote or favors any currency as such rather it specifically makes almost all the majority traditional forms of money in this dispersed financial system more useful and accessible to everyone uniformly, that is for all forms of money a similar digital token money can be created for example depiction of a U.S. dollar currency on Stellar price is in the form of a “Dollar Token” (a digital token); thus it is like this that whenever someone deposits a traditional dollar with Stellar, then it will issue them one of the new digital dollar tokens.

The Stellar Development Foundation (the United States-based non-profit organization) is the support level system of Stellar web orbit. It constantly directs, guides, and supports the development and growth of the basic Stellar technology on its system. This Foundation aids the maintenance of Stellar’s codebase and as well supports the working and business communities around the network along with communicating to the regulatory authorities and institutions.

There are no shareholders of this Foundation, thus this system can be purely committed to the accomplishments of Stellar grid as a neutral, equitable, and public network. This implies that the absolute power of the Stellar system expands with the entry of each new company and developer in its system or network. Stellar is a system with no centralized mandate or power, but even without that the ledgers on the system are verified and updated, every five seconds automatically; which implies that nobody can interrupt, halt or hinder the system and also cannot secretively modify the numbers on their own will, even it is a public network still.

The Objective of Stellar Lumens

The Stellar Foundation has envisioned three main broad objectives for the Stellar Lumens:

  • To support as well as boost the robustness, security, scalability, and usability of Stellar Network – by increasing Stellar’s stakeholders and greater system participation; by assuring the Stellar’s scalability to handle the increased volume from new use issues; by building tools which will simplify the development for asset issuers, cross-border payment wallets, and securitized asset platforms.
  • Establishing the Stellar’s Network as a trusted and well-known blockchain ecosystem on the global stage – by marketing, promoting, and branding Stellar and its use-cases to increase awareness and drive ecosystem enlargement; by creating documents and guides such as Standard Operating Procedures (SOP) to make construction on Stellar Lumens more independent; by engaging with policymakers, regulators, and leaders around the globe to form a strong as well as transparent network.
  • Nurturing and improving the viable Stellar use-cases that will facilitate cross-border payments and securitized assets – by developing a single, simplified and effortless User interface for a cross-border payment wallet; by creating simple, flawless, and unified ways to buy and sell fiat on its network; by ensuring enough liquidity for fiat money that is assembled on the system.

Working of Stellar Lumens

The Stellar Lumens works on a unique algorithm called – Stellar Consensus Protocol (SCP) which facilitates smooth functioning and synchronization of the system. Stellar being a decentralized currency similar to bitcoin as well as too few other altcoins. Everyone is able to set up a verification node (server) on the networks with help of its backbone Stellar Core, which actually does the verification using the Stellar Consensus Protocol (SCP).

Steps on how it works with help of an example: First and foremost, the investor or user has to register himself or herself and provide necessary information/details along with an email address for the verification process to open the Stellar XLM wallet or XLM cryptocurrency account. Then on Firstly, the sender in the U.S. holds dollar tokens and signals to the system that he/she wants to send Peso tokens to another receiving party; then the system searches through the decentralized exchange as mentioned above and finds the best XLM coin price prediction every day for the sender.

After the search is completed the network locks in the price today as well as amounts and notifies the sender; After which the sender confirms the transaction, then the dollar tokens are transferred from the sender’s wallet or account to the receiver; Followingly the transaction is executed and the recipient gets the Peso tokens in his/her account. The whole payment transaction is nuclear and rendered to the Stellar Lumens grid as a solo transaction. In this grid, it is not possible for any of the parties i.e. either sender or receiver to get caught in the middle of the transaction or hold tokens.

Features and Benefits of Stellar

  • Stellar XLM is an open and interoperable payment and currency source network.
  • Stellar Lumens is also a decentralized and independent system.
  • Transparency is the principle and belief of this Stellar Lumens coin.
  • Stellar XLM is a fast, efficient system for trading, saving, and spending digital money grid for its Users.
  • Stellar blockchain is an unrestricted financial infrastructure system.
  • Stellar Lumens is freely accessible to everyone on its Stellar Lumens grid.
  • Stellar Lumens also has a simplified but strong security system with its equipped cookie policy as well as other blocking systems on its Stellar Lumens Grid.
  • There is no need for any permission or application as such to operate in the Stellar Lumens.
  • The Stellar blockchain helps in simplifying the fintech products on the Stellar Lumens orbit.
  • Peer–to–Peer tokens can be traded on this Stellar Lumens.
  • Users can issue their own assets on this Stellar Lumens.
  • Users can transform currency on the Stellar Lumens as soon as it is sent on the Stellar Lumens grid.

Overview of XLM Price Prediction

Stellar Lumens (XLM) is the native cryptocurrency of Stellar, a blockchain platform that allows the exchange of digital to fiat currency. It is an altcoin cryptocurrency trading under the symbol XLM on trading exchanges. Stellar Lumens (XLM) was first introduced in the year 2014 and since then it has been in the list of Top 20 cryptocurrencies as per the latest research report of September 2020. Stellar Lumens (XLM) is the coin that’s used on the Stellar Network’s blockchain platform.

Currently, the XLM price is approximately $0.2082. Likewise, all other altcoins even Stellar Lumens (XLM) one side have their own advantages such as – Fast, Quick, Speedy, Cost-effective, Easy currency exchange, easily accessible, decentralized platform, Fully Transparent system, Seamless transaction possible, etc… On the other side, it has its own disadvantages as well such as Mining is not possible as it doesn’t use the Proof-of-Work system; Not widely accepted as a payment method.

A Historical Data of Stellar Price Prediction

The price of XLM cryptocurrency as per reports of October 2020 XLM was $0.0796 or 0.0800 approx. As to probe into XLM coins history and future price technical analysis data, forecasts as well as Stellar price predictions data, soon shortly after its initial coin offering (ICO) on September 15, 2014, the XLM price was $0.003. After which, it performed badly and was at its lowest in at $0.001. Again, in early 2018, XLM’s value reached an all-time high but a brief spike of $0.94 approx.

After the all-time brief spike in early 2018, Stellar Lumens price once again fell into a bearish situation and again by the end of the year, it had more fallen over by more than 90% i.e. to $0.09 and remained almost in the same range for the whole year, at max with the high $0.16 in the year 2019. Barring which the year 2019 was unbelievably bad for Stellar Lumens price in lieu of performance, market cap and also gained bad performance reputation in the market. After such a drastic price fall, most of the Stellar lumens price analysts thought that this crypto is dead.

As compared to 2018 and 2019 Stellar price prediction, the performance of Stellar Lumens price slightly improved in early 2020 but again during this global pandemic it fell again to its low of $0.03, but it was still significantly more valuable than in the first couple years of its existence. Later, XLM marked sharp spike and crossed resistance level of $0.2 mark. In the last year, the currency registered continuous growth with in-between temporary corrections. Recently, the XLM coin recorded a new high at $0.9381, but later, it marked sharp decline and corrected below $0.2914 mark.