Up 10% in the everyday and 36.3% in the 2 week chart, at the time of composing, Stellar Lumens (XLM) has actually been among the very best carrying out possessions in the crypto leading 30 by market cap. The cryptocurrency has managed to outperform Bitcoin, Ethereum, and other major coins in the top 10.
Stellar technical indications have actually rapidly moved into the purchasing zone with the easy moving average (SMA) and rapid moving average (EMA) crossing the $0,32 mark.
The Relative Strength Index (RSI) remains neutral with a 61.5 value, but the Moving Average Convergence Divergence, a metric used to measure price momentum in an asset, is flashing a buy signal.
XLM trending to the advantage accompanies rapid development in its community. As summarized by the Stellar Development Foundation (SDF), the network made significant developments in Q3, 2021.
In addition, it handled to protect essential collaborations such as the one with payment huge MoneyGram. This will allow users to connect their wallets with the company’s global retail platform.
Thus, customers will have the ability to take advantage of money financing and payments in USD Coin (USDC) with Stellar possible to immediately settle a deal. In that sense, the network has expanded its main use case and its capacity to onboard millions of new users into its network.
At the time, the CEO and Executive Director for the SDF Denelle Dixon called the collaboration a presentation of the power of blockchain innovation to enhance the tradition monetary system. Dixon included:
Thanks to the reach of MoneyGram’s services and the speed and low cost of transactions on Stellar, a new segment of cash users will be able to convert their cash into and out of USDC, giving them access to fast and affordable digital asset services that may have previously been out of reach.
Stellar Growths To Fulfill Its Original Vision
In addition to the MoneyGram collaboration, the SDF launched a Whitepaper explaining how Stellar was developed to assist in the release of Central Bank Digital Currencies (CBDCs).
The SDF claims that the network has unique characteristics which allow it to support these assets and how a central bank can issue implement it on Stellar.
With the advancement of the digital Yuan and its quick development, CBDCs are climbing up the top priorities of worldwide federal governments. The network could support the CBDCs of the European Union, of developing countries in Africa, and others in the future.
In addition, as NewsBTC reported, the network will quickly vote to carry out Protocol which will give it Automated Market Makers (AMMs) performance. The SDF declared:
This AMM development process to-date has been a shining example of how our entire ecosystem can work together, anchored around Stellar’s guiding open source principles, to further Stellar network development and sets a new bar on our collective collaboration.
The community has actually experienced other essential advancements and its usage cases from cross-border payments to its energy effectiveness to a just recently revealed effort to speed up blockchain education.
In many sectors, XLM seems to be moving ahead of the curve and it has reflected on its price action suggesting a strong potential for a sustained rally into Q4, 2021.
