12/27/2023 0 Comments Stellar lumen outlook![]() ![]() These are small enough to keep Stellar widely accessible, but big enough to discourage large-scale bad behavior. Right now, the minimum balance is 1 lumen and the minimum per-transaction fee is 0.00001 lumen. Imposing a minimum balance on each account and a very small per-transaction fee were chosen as these deterrent costs. To solve this, we needed to introduce just the slightest bit of friction to deter bad or frivolous actors. These outcomes would defeat the intent behind Stellar: to be a fast, efficient payments system. Without some nominal barrier or cost, the ledger could become filled with spam or nonsense, or used as a kind of arbitrary database system. Do your research.The need for lumens arose out of the fundamental design of Stellar’s ledger system. Otherwise, declines below $30 exposes LTC to Dec 2018 lows of $20.Īll Charts courtesy of Trading View-BitFinex, Bittrex Thereafter, we shall trade in line with previous trade plans with targets at $50. That mean, bulls will be in control but for positions to be initiated, prices must surge above $35 at the back of above average volumes. Note there is a bull trap and although the trend is still up, traders need to see increased market participation confirming late Dec 2018 upswings. LTC prices may be stable but recoveries above $50 anchors on reaction at $35. on the flip side, declines below 8 cents could see XLM sink towards 5 cents or lower by end of January 2019. Rallies above 15 cents will no doubt increase XLM mark cap, opening up opportunities for retest of 30 cents. It is for this sole reason that we retain a neutral approach, tracking XLM performance in the short term. If not, then rejection of higher highs could trigger a sell off in the third phase of a bear breakout pattern. However, let’s not forget that by dropping and closing below 15 cents in mid-November, XLM is trading within a bear breakout pattern against the USD.Īs laid out in previous altcoin daily previews, 15 cents should be important as far as XLM trading is concerned and for bulls to be in control, then the bear breakout pattern confining recent price action must be nullified. By dropping from 30 cents to 15 cents after four months from July to Nov 2018, XLM is pretty stable. If anything, Stellar Lumens (XLM) has been consolidating against the USD for the better part of the year. Anyhow, the year is still “young” and as optimism fill the air, the short to medium term projection largely depends on January’s barometer. Therefore, while experts can spew random numbers, it will be hard to settle on a figure because like any asset, unpredictable macros can be a real bummer. While Jimmy Song retained a bearish outlook saying BTC may as well tank to $2,100 before snapping back to trend, Ritchie cited adoption levels and the overall impact of traditional markets on cryptocurrencies.Īlso Read: After $182M Funding Round, Crypto Platform Bakkt Makes AcquisitionĮven so, the market is generally apprehensive with the scars of 2018 yet to heal. In their own view, the crypto market is likely to make a U-turn and that means a change of fortune for asset prices including Lumens. Read: DX.Exchange Continues to Upgrade its Platform a Week After Launch Therefore, although their outlook is a bit outrageous-and even full of hopium, the analysis from a “ panel of experts” lead by Ben Ritchie, COO of digital capital management and Bitcoin educator and investor, Jimmy Song cannot be binned just like that. We saw what happened in Sep last year when XRP prices soared 400 percent a few days before xRapid and the super hyped SWELL conference. That’s to say asset prices can swing by large margins in matter of minutes, hours or days. By design, the crypto market is inherently volatile. ![]()
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