At the time of writing, Stellar Lumens (XLM) is one of the best performing assets in the crypto top 30 with market cap, at 10% daily and 36.3% on the 2 week chart. The cryptocurrency has been able to surpass Bitcoin, Etherium and other major currencies in the top ten.
Stellar technical indicators have entered the buying zone, exceeding the Fast Moving Average (SMA) and Index Moving Average (EMA) $ 0.32.
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The Relative Strength Index (RSI) remains neutral with a value of 61.5, but the Moving Average Convergence Divergence, a metric used to measure the price movement in a property, shows a buy signal.
The upward trend of XLM trending coincides with the indicative growth of its ecosystem. Briefly by the Stellar Development Foundation (SDF), the network has made significant improvements to Q3, 2021.
In addition, it was managed to secure important partnerships such as payment giant MoneyGram. This will allow users to connect their wallets with the company’s global retail platform.
In this way, consumers will have the opportunity to make cash and payments in USD Coin (USDC) to settle a transaction with the possibility of Starr. In that sense, the network has increased its core usage and the ability to add millions of new users to its network.
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Daniel Dixon, CEO and Executive Director of SDF, called the partnership a demonstration of the power of blockchain technology to improve the legacy financial system. Dixon added:
Thanks to the speed and low cost of transactions at MoneyGram’s service reach and Stellar, a new segment of cash users will be able to convert their cash into USDC and beyond, giving them access to fast and affordable digital resource services. Was previously out of reach
Star growth to meet its core vision
In addition to the MoneyGram partnership, SDF has published a white paper on how Stellar was designed to facilitate the establishment of central bank digital currencies (CBDCs).
SDF claims that the network has unique features that allow it to support these resources and how a central bank can implement it at Stellar.
With the development of the digital yuan and its rapid advancement, CBDCs are gaining international government priority. The network could support the CBDC of the European Union, developing countries in Africa and others in the future.
In addition, as NewsBTC reported, the network will soon vote for the implementation of a protocol that will provide it with Automated Market Makers (AMM) functionality. SDF claims:
This AMM development process to date has been a shining example of how our entire ecosystem can work together, based on Stellar’s pioneering open source policy, taking Stellar Network Development further and creating a new barrier to our collaborative collaboration.
The ecosystem has faced other important developments and recently announced initiatives to accelerate blockchain education, from border payments to its energy efficiency in its use.
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In many sectors, XLM seems to be moving towards the curve and this is a reflection of its price action which suggests a strong possibility of a sustainable assembly in Q4, 2021.