Franklin

Algorand

USDC

Zcash

Stellar

<p class="is-style-lead">Stellar Lumens price has risen for two consecutive days, and some crypto analysts expect it to continue its comeback.</p> 
<p>Stellar (<a href="https://crypto.news/price/stellar/">XLM</a>) was trading at $0.105 on Wednesday, up by 6% from its lowest point this month and by 36% from its July low.</p> 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14288600"> 
  <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/Stellar-Price1.png.webp"> 
  <img loading="lazy" decoding="async" width="1856" height="1086" src="https://crypto.news/app/uploads/2024/07/Stellar-Price1.png" alt="Stellar price"> 
 </picture> 
 <figcaption class="wp-element-caption">
  XLM price chart | Source: <a href="https://crypto.news/price/stellar/" target="_blank" rel="noreferrer noopener">crypto.news</a>
 </figcaption>
</figure>  
<p>Ripple (<a href="https://crypto.news/price/xrp/" target="_blank" rel="noreferrer noopener">XRP</a>) and Stellar have similar origins and goals. Stellar was established by Jed McCaleb, a computer programmer who served as Ripple’s Chief Technology Officer. Stellar is now mostly known for its partnership with Circle, the creator of USD Coin. <a href="https://www.circle.com/en/multi-chain-usdc" target="_blank" rel="">Data by Circle</a> shows that the total supply of USDC in Stellar stood at $228 million on July 31.</p> 
<p>Stellar has also partnered with MoneyGram in a deal that lets USDC recipients access their cash in thousands of its locations globally.</p> 
<p>Additionally, Stellar powers Franklin Templeton’s OnChain U.S Government Money Market Fund, which has accumulated over $402 million in assets. FOBXX is a tokenized fund similar to Blackrock’s BUIDL that aims to provide holders with regular income.</p> 
<p> You might also like: <a href="https://crypto.news/blackrocks-buidl-adds-over-5m-in-a-week-despite-market-turbulence/"> BlackRock’s BUIDL adds over $5m in a week despite market turbulence </a> </p> 
<p>Some crypto analysts believe that Stellar Lumen’s has more upside to go. In an X post, Jonathan Morgan, the lead crypto analyst at Stocktwits, <a href="https://x.com/jonmorgan_HODL/status/1818450187108470877" target="_blank" rel="">noted that</a> Stellar was one of the most undervalued cryptocurrencies in the market. The other two were Algorand (<a href="https://crypto.news/price/algorand/" target="_blank" rel="noreferrer noopener">ALGO</a>) and Zcash (<a href="https://crypto.news/price/zcash/" target="_blank" rel="noreferrer noopener">ZEC</a>).</p> 
<p>In another X post, Cryptosahintas, an analyst with over 155,000 followers, predicted that the XLM price would rise to $0.73. If this happens, it will imply a 600% increase from the current price.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Stellar / Xlm /Usdt <br><br>Loading 0 .73 $ 7 X<a href="https://twitter.com/hashtag/Stellar?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Stellar</a> <a href="https://twitter.com/hashtag/Xlm?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Xlm</a> <a href="https://twitter.com/search?q=%24Xlm&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$Xlm</a> <a href="https://t.co/IjJN9OMtUI" target="_blank" rel="">pic.twitter.com/IjJN9OMtUI</a></p>— Cryptosahintas (@Cryptosahintas) <a href="https://twitter.com/Cryptosahintas/status/1818233018537959791?ref_src=twsrc%5Etfw" target="_blank" rel="">July 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="xlm-price-needs-to-clear-key-resistance-levels">XLM price needs to clear key resistance levels</h2> 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14288599"> 
  <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/Stellar-price-1024x569.png.webp"> 
  <img loading="lazy" decoding="async" width="1024" height="569" src="https://crypto.news/app/uploads/2024/07/Stellar-price-1024x569.png" alt="Analyst: ‘undervalued’ Stellar Lumens price is ripe for a comeback - 8"> 
 </picture> 
 <figcaption class="wp-element-caption">
  Stellar price chart | Source: <a href="https://www.tradingview.com/symbols/XLMUSD/?exchange=COINBASE" target="_blank" rel="">TradingView</a>
 </figcaption>
</figure> 
<p>For this Stellar forecast to work out, the token will need to flip the key resistance point at $0.1125 (July high) into support. It should then rise above the year-to-date high of $0.1626, which is about 55% above its Wednesday’s trading level.</p> 
<p>On the positive side, this price action is possible since the token formed a falling wedge chart pattern between March and July. A falling wedge is one of the most popular signs in the financial market.&nbsp;</p> 
<p>However, fundamentally, Stellar has some key issues. Its Soroban blockchain platform has gained little traction among developers. It has <a href="https://defillama.com/chain/Stellar" target="_blank" rel="">attracted</a> just 6 Decentralized Finance developers and $11.70 million in total value locked.</p> 
<p> You might also like: <a href="https://crypto.news/stellars-xlm-token-forms-bullish-divergence-but-risks-remain/"> Stellar’s XLM token forms bullish divergence, but risks remain </a> </p>

Analyst: ‘undervalued’ Stellar Lumens price is ripe for a comeback

Table of Contents

crypto.news

Autres articles publiés le 31 juil. 2024

Economists Skeptical About Trump's Bitcoin Stockpile Plan: A Game-Changer Or A Mere Election Gimm...

Render Continues To Flash Red In All Timeframes – What’s Going On?

India’s Web3 alliance tightens cybersecurity after WazirX attack

Bold Statements for Ethereum from Cardano Founder! ETH-ADA Debate Ignited!

Robert Kiyosaki Slams Fiat as ‘Fake Money,’ Bullish on Bitcoin

Hong Kong Eyes Strategic Bitcoin Reserve Amid Global Shift Towards Digital Gold

Join our free newsletter for daily crypto updates!