The Stellar Lumens (XLM) cryptocurrency has recently displayed interesting market momentum, forming an uncommon chart pattern suggesting potential upcoming price appreciation. Although the price has experienced a pullback from its yearly highs, Stellar network’s fundamentals remain solid, with a significant increase in transaction activity and stablecoin adoption.
Data from Nansen shows that the Stellar network has experienced sustained growth in recent months. The number of transactions has increased by 14% over the past 30 days, placing Stellar at the 8th position among the most active chains in the crypto sector. Additionally, the number of active addresses has surged by 81% during the same period, while network fees have climbed by 120%.
Toward Simplifying Global Payments
Stellar appears to be on the right track to achieve its goal of simplifying international payments. Its stablecoin offering has progressed by 21% over the last month, reaching $209 million.
🤖 AI Forecast: Stellar $XLM is Entering Its Acceleration Phase 🚀
Analyzing blockchain trends, user adoption, and ecosystem growth, our AI models detect a major upward shift coming for Stellar Lumens (XLM) 🔍📈
Meanwhile, the number of transactions conducted via Stellar has increased by 17%, while the adjusted transaction volume has jumped by 22%, totaling $1.9 billion. These figures highlight Stellar’s strong growth potential thanks to its performance in terms of transaction speed and costs.
The Next Step : Stellar Protocol Upgrade
The next major advancement for Stellar Lumens will be the implementation of the Protocol 23 upgrade. Developers have announced that the testnet and stable versions will be available from August 14, with a mainnet vote scheduled for September 3. This upgrade is expected to generate renewed interest in XLM and potentially stimulate its market price.
A Promising Technical Setup
On the technical front, Stellar Lumens’ price has recently formed a “double-bottom” pattern and displayed a bullish golden cross on July 13. Most notably, a “falling wedge” pattern has formed, suggesting a potential breakout to $0.5183, representing an increase of more than 31% from the current level. A breakthrough above this level could lead to additional gains, potentially reaching $0.6365, a progression of 61%.
In conclusion, despite a temporary pullback, Stellar Lumens (XLM) appears well-positioned for significant growth in the cryptocurrency market. Thanks to its sustained network momentum and upcoming protocol upgrades, XLM could offer investors and traders interesting potential for appreciation in the near future.
How to Buy Stellar on Bitget ?
Here’s a simple guide to take advantage of XLM’s potential 61% surge in the coming days :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
Get 6200 USDT with Bitget ! 🔥
Don't miss out on this offer !
Create your account now to unlock this exclusive reward
