At that time many experts believed at the end of a bear season as the market was showing signs of recovery. The price went up to $0.23 at the beginning of February but stayed in a downtrend until the middle of March. Even then it couldn’t reach more than $0.29 and at the end of January lost around 40% of its value and was trading for $0.19 and kept following the downward trajectory. As winter was approaching crypto market was flipped into a bear season and the XLM token price chart also started to decline.īy December 19 XLM was already traded for $0.25, but at the end of December-beginning of January 2022 the asset went up, unlike other tokens. The altcoin season in October has also affected the XLM token price which was rallying till the middle of November, bouncing between $0.33 and $0.41. At the end of the month, the price of the Stellar network token went for a massive price correction and fell to $0.25. The asset was in the uptrend for the next 2 months, reaching $0.42 on September 6. From that time the token went up as the crypto market was also experiencing recovery signals. On July 20 the price of Stellar Lumen dropped to $0.21, which signified the lowest level of the period. At the end of June XLM token price fell from $0.34 to $0.23 and after a short recovery to $0.26 at the end of the month continued in a downtrend. Thanks to the access to the global financial systems that it offers to its users, almost anyone can send money across the globe.Īfter the bull rally in the spring of 2021, most of the crypto market went down and XLM price was also dropping during the summer months. The project is more focused on individual clients than institutions. Whenever the user starts the transaction the protocol immediately converts it to Stellar Lumens and then to the requested currency. It serves as an intermediary in the transactions. The basis of the Stellar system is its native cryptocurrency called Lumens or XLM tokens. The Stellar network offers a high level of security and no users without tokens can stay active on the network, so the transactions are executed fastly and efficiently. Multi-currency transactions are also supported by the project. Additionally, the project offers micropayment services with low fees and fast transactions. Thanks to simple functions users can easily swap between tokens. Stellar has a built-in decentralized exchange for crypto, Forex, and securities. The most significant feature of Stellar that gives it a big advantage is that the price of each transaction is only 0.00001 XLM.
#STELLAR LUMEN OUTLOOK CODE#
Originally Stellar was built on Ripple Labs Protocol, but after the network was hard forked the code was rewritten. The functionality of the network is based on Anchors - bridges between different currencies and Stellar. It also offers tools and documentation for the developers to easily set up their own projects. The protocol is based on the redistributed ledger technology, it is owned and distributed by the community and has an open code. The project was created in 2014 by The Stellar Development Foundation - and officially launched in 2015. It allows transferring the finances swiftly and reliably at a minimal cost and mainly targets the inhabitants of developing countries that can get access to the global economy this way. It was created with the idea to unite the world’s financial systems including banks and payment processors in one global network. It allows to store and send digital representations of different types of money, including fiat and crypto. Stellar is a peer-to-peer open and decentralized network for storing and moving money.
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