How to trade STELLAR LUMEN? XLM Technical Analysis & XLM Price Prediction January 2023

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How to trade STELLAR LUMEN? XLM Technical Analysis & XLM Price Prediction December 2023

Stellar is a smart contract cryptocurrency that is designed for one thing: the transfer of value. This includes the transfer of tokenized assets as well as Stellar’s native Lumens token which goes by the ticker XLM.

In contrast to other crypto projects, Stellar is not trying to replace the existing financial system.Instead, it is trying to integrate with it and optimize payment channels between entities like central banks. This has led Stellar to be labelled as a ‘banker coin’ along with the likes of Ripple, from which it is forked.

In 2023, Stellar has been focusing on building close relationships with major financial institutions and regulators. This includes the WEF, OCC, and IMF. In addition, the Stellar Foundation implemented a series of protocol upgrades which gives institutions more control over network transactions.

Stellar also partnered with Circle to launch their USDC stablecoin, something which is seen as a seal of approval by the cryptocurrency space. Given both Circle’s and Stellar’s eagerness to work with governments on their CBDC technology, this combined partnership is incredibly significant.

Every transaction on the Stellar network is paid for using XLM. Stellar has made incredible strides in adoption since Denelle Dixon became the CEO, and every single bank, business, and government using Stellar today and tomorrow will pay fees in XLM.

Stellar’s decision to rework the tokenomics of XLM by removing inflation and burning more than half of its supply suggests that they are looking to support the value of the XLM token. This is only logical considering that the higher the XLM price, the more money the Stellar Foundation will have to play with.

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How to trade STELLAR LUMEN? XLM Technical Analysis & XLM Price Prediction January 2023

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