Stellar (XLM) is ready to overcome the resistance of US$ 0.085?
With Bitcoin System locked in a narrow range, the crypto market has been fairly stable over the past few days. However, there are some participants who have decided to continue generating significant profits. Such is the case with Stellar (XLM), which makes us wonder if it will be ready to break through the next major barrier, which is close to USD 0.085. We will find out below with an analysis.
The Stellar network is an open-source chain of blocks, designed to facilitate value transfers, with minimal fees. At the same time, it offers its users a low-cost access to different financial services.
To simplify the explanation, Stellar wants to become the bank of the future, as a much cheaper alternative and without intermediaries, in a network that settles transactions in real time, approximately between 2 and 5 seconds, with cryptographic security.
Since its foundation in 2014, the network’s native cryptomoney, known for its XML tag, has been on a historical upward trend. This is quickly identifiable if we look at the ROI of 2541% for initial investors who have not touched its position.
Being a chain focused on becoming an alternative to the current financial system, the massive adoption of the project will always be the priority.
To this end, several partnerships have been made, one of the most important being the one signed with IBM in 2017. The agreement was made with the purpose of creating several foreign exchange brokers, to facilitate transactions in the South Pacific.
IBM signs six Banks for World Wire based in Stellar
How to mine Stellar Lumens?
Stellar cannot be undermined, because the maximum 100 billion Lumens were issued at its birth, with a fixed annual inflation rate of 1%.
Later, in 2019, the community decided to put an end to this inflation mechanism, and reduced the total to 50 billion.
Currently, some 20 billion XLM are in circulation, while the other 30 billion are in the custody of the Stellar Development Foundation, in order to promote the development of the network.
Today the price of XLM is USD 0.07861, its lowest ever price of USD 0.001227, and its highest ever price of USD 0.9381.