The Stellar Financial Protocol: Short-Lived Rally and Potential Recovery
The trading volume of the Stellar financial protocol has seen a significant increase of 26.56% today. However, this surge in activity is likely due to short positions. Despite this, XLM’s market value has experienced a 3.8% gain in the last 24 hours, reaching $0.12. This rise in price and trading volume has caught the attention of investors, who are hopeful for further increases. However, the historical price behavior of XLM suggests that the rally may be short-lived, with potential downtrends ahead.
Key Points:
- XLM has experienced a price decline from August 9-17, with attempts at a rally on August 18 quickly followed by another decline on August 21.
- XLM’s price gains in the past 30 days have decreased by 12.5% and by 9.4% in the past 14 days. However, there has been a modest 0.2% increase in the last seven days.
- XLM currently trades below its 50-day Simple Moving Average (SMA) and the Relative Strength Index (RSI) is in the neutral zone, indicating uncertainty in its next price move.
- The Moving Average Convergence/Divergence shows a sell signal but also suggests a possible trend reversal in the coming weeks.
- XLM still trades above its 200-day SMA, indicating potential long-term bullish recovery.
Stellar’s Partnership with Bytecode Alliance and the Impending Launch of Soroban
The Stellar Development Foundation has recently partnered with Bytecode Alliance, a group that supports the development of WebAssembly (Wasm). This partnership exposes Stellar to a broader user base and may contribute to XLM’s price gains. Furthermore, the upcoming launch of Soroban, a contract platform developed by the Stellar Development Foundation, could positively influence XLM’s price pattern. Soroban will attract more investors to the platform and utilize XLM as gas for executing smart contracts, boosting its price and the value of the Stellar ecosystem.
Key Points:
- Wasm is a direct competitor to Ethereum’s Virtual Machine (EVM) and supports native browser applications without a blockchain framework.
- Soroban is considered feature complete and has already attracted over 70 projects building decentralized applications in its ecosystem.
- Soroban’s launch will likely replace the expensive gas fees of the Ethereum model, leading to long-term recovery for XLM.
- The Stellar Foundation has demonstrated dominance in their tokenized treasuries dashboard, outperforming ETH and Polygon.
yPredict: AI-Powered Trading Solutions Disrupting the Crypto Industry
yPredict is an AI-powered platform offering two channels for users to earn passive income. The first channel involves the development and sale of prediction models by Machine Learning (ML) experts, while the second channel allows users to stake YPRED tokens and earn a share of the quarterly staking rewards. yPredict has raised over $3.58 million in presales, and users can accumulate tokens before a potential price surge. This project utilizes AI to overcome challenges associated with crypto trading.
Key Points:
- yPredict offers the best 1% of ML experts who develop and sell prediction models, generating income from user subscriptions.
- YPRED token staking provides users with a share of the 45% quarterly staking rewards, derived from tokens paid by new subscribers.
- The presale stage offers YPRED tokens at a price of $0.1, with the potential for a price surge after listing at $0.12.
- Users can stake YPRED tokens using ETH, MATIC, BNB, or bank cards by connecting a secure crypto wallet to the presale page.
Hot Take:
The Stellar financial protocol’s recent increase in trading volume and price gains may be short-lived due to historical price behavior and bearish resistance. However, partnerships with Bytecode Alliance and the impending launch of Soroban present opportunities for long-term recovery and growth. Additionally, the disruptive AI-powered trading solutions offered by yPredict could provide users with a chance to earn passive income and overcome challenges in crypto trading.
By
By
By
By
By