Rare Chart Pattern Highlights Stellar’s Growth Potential
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.
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 :
- Create a Bitget account : Sign up on Bitget’s website or mobile app. Complete the identity verification (KYC).
- Deposit funds : Add fiat currency (EUR, USD) via credit card or SEPA transfer, or use cryptocurrencies like USDT.
- Access the XLM market : In the “Spot Trading” section, select the XLM/USDT or XLM/EUR pair (current price: ~$0.395).
- Place a buy order : Set up orders of $500 (or use DCA) via a market order or limit order (e.g., $0.38 for a dip).
