In this article, we are going to focus on the Stellar blockchain project. First, we will talk about the project, its characteristics, and goals. Then we will focus on analyzing your future through the technical analysis of some specialized platforms.
What is Stellar (XLM)?
Stellar is an open-source blockchain created to help people make payments easily. To achieve this, it offers transactions that are validated in less than 6 seconds and with transaction fees of just 0.0001 XLM. The transaction cost of XLM is really negligible compared to many other cryptocurrencies.
Stellar Consensus Protocol (SCP)
Stellar looked for an alternative to the consensus algorithm used by Bitcoin, and created its own consensus algorithm, the: Stellar Consensus Protocol (SCP).
SCP, in addition to being cheaper, offers protection against external attacks. The Stellar community itself is in charge of verifying the transactions that are carried out thanks to its network of decentralized servers.
To be part of the community secures the Stellar network, it is necessary to be a “server” of the Stellar network, called an “anchor”. These servers have a copy of the history of the network transactions and communicate with each other within it. To guarantee that transactions are validated in a maximum of 6 seconds, this communication occurs between every 2 and 5 seconds.
XLM is the cryptocurrency of the platform and currently occupies the 14th position in the ranking of cryptocurrencies.
In the beginning, 100 billion lumens (XLM) were created, currently, the number of Lumens in circulation is 20,422,687,036 XLM out of a total of 50,001,803,816 XLM. Its price at the time of publication is $0.083934.
The transactions XLM, and the like in other cryptocurrencies are irreversible. However, you can block the quantity sent. In this way, the asset will be blocked at its new address and can only be sent back to the address that sent it.
XLM also allows instant currency exchange. When someone sends money through your platform, you can choose the currency in which you want the sender to receive it. For example, you can have the asset delivered in euros or dollars.
Thanks to its XLM properties, it becomes perfect for making micropayments either between companies or as a consumer, sending funds, automatic currency exchange, among other things.
Historic Lumens price
The price of XLM has always remained below $1, and although it did exceed $0.5 in January 2018, it has always remained below that figure.
XLM remained with a price below $0.01 until May 2017. Then, dragged by the uptrend experienced at the end of 2017, its price rose and reached 0.938144 dollars on January 4, 2018. After having reached its maximum, it began to fall, drawing a dizzying drop on its price chart.
During 2018 the price of XLM fell from $0.84 in January to $0.09 in December.
In 2019, although its price continued to fall, it was better and closed with a price of $0.045.
2020 was a different year. Its price slowly saw the light again and closed the year with a value of $0.13.
2021 is getting even better. Its price is thriving and valued at $0.19 on January 1, 2021. It is currently priced at $0.53 as of press time.
XLM technical analysis
To carry out the technical analysis of a cryptocurrency, you have to use software that, through complex mathematical functions, analyzes historical data and predicts futures.
Let’s look at the rating of different technical analysts for the price of XLM in dollars:
Digital Coin Price
- According to Digital Coin Price, the price of XLM will be:
According to this analyst, XLM is a good long-term investment .
Crypto Currency Price Pediction
- According Crypto Currency Price Prediction e l XLM price shall be:
According to this analyst, XLM is an excellent long-term investment.
- According CoinPedia XLM price shall be:
According to this analyst XLM is a good long-term investment .
- According to Prime XBT the price XLM will be:
According to this analyst, XLM is an excellent long-term investment .
Wallet Investor’s forecast on the price of XLM is:
This analyst believes that XLM is a good long-term investment.
As they have been able to verify, these technical analysts specialized in analyzing and predicting the future price of the different cryptocurrencies.
Even they are not sure what will happen predictions help us make our own conclusions about whether to invest or not.
As always, it is difficult to predict what the price of any cryptocurrency will be in the future. Its price is so volatile that it can change drastically in minutes, hours, or days.
Even these specialized platforms in analyzing the future price of this group cannot reach the same figure.
We will have to be very aware of the trust given to this cryptocurrency and its adoption over time, as it will say a lot about its future.
On the one hand, its position and popularity within this market is a point in its favor. Well, it occupies the 14th position in the market capitalization ranking, according to moondb.com.
Share your opinion about the future of this interesting cryptocurrency; perhaps your opinion will help other readers to draw their conclusions.