XLMUSD Daily Price Chart XLM Price ChartĬonsidering the overall market sentiment of crypto and the Fed’s upcoming hike in interest rates, a new ATH for XLM price seems to be highly unlikely in 2023, and a target of $0.055-$0.05 seems more probable. If it fails to bounce from the $0.066-0.070 support, then a retest of 0.026 level could be on the cards, which is 58% below the current price. XLM price has broken below the 200 MA, which currently lies at $0.0886. Stellar Lumens price prediction 2023 is not looking bullish as the price has been in a tailspin for the past few weeks. Stellar Lumens TVL – Source DeFi Llama Stellar Price Prediction 2023 The top 10 blockchains currently hold more than $250 million TVL each. As per DeFi Llama, currently, there is only 19.54 million TVL on the Stellar blockchain. Thenwtrork is also lagging in on-chain activity and the Total Locked Value (TVL). Stellar Lumens network is way behind most of the major Laye 1 platforms. The 2023 roadmap for the top crypto project suggests that the current year will be filled with a lot of Stellar Lumens news. Proper smart contract functionality is also on the cards in 2023 for Stellar, as the network needs a DeFi ecosystem to gain more TVL. Therefore, the Stellar Team is working on increasing this throughput to 5000 transactions per second by the end of 2022 while also developing a Layer 2 solution known as Starlight. However, this speed will not be enough if Stellar intends to become the go-to solution for cross-border payments. The current architecture of t he Stellar Lumens network only supports 1000 transactions per second. Other upgrades include wallet tools, decentralization, scalability enhancement, etc. Stellar Lumens will be focussing on developing more building blocks to enhance network utility. Nevertheless, the project has big plans for 2023. Unlike other major layer 1 platforms, the adoption stats of Stellar are lagging. A nonprofit Stellar Development Foundation runs all the project development. However, the native asset was rebranded to Lumens (XLM) to avoid confusion with the project name, i.e. Initially, the cryptocurrency was called Stellar. Stellar Lumens was launched as a fork of Ripple in 2014 with more focus on decentralization. Ripple still remains the biggest competitor of Stellar. He was of the view that Ripple was becoming too decentralized, which was against the spirit of crypto. However, Jed left the project due to his opposing views on Ripple’s roadmap. Jed was also one of the founding members of Ripple. Jed McCaleb and David Mazieres launched Stellar Lumens in 2014. In addition, it partnered with Argentinian and Chilean companies for the development of stable coins pegged to the respective local currencies in both countries. The project partnered with Money Gram in October 2021. Over the years, Stellar Lumens has also developed several Fiat gateways. However, this perception changed when the Stellar Lumens Team actively engaged in pro-crypto conferences while also trying to work with the regulators for broader cryptocurrency adoption. That was also why Stellar Lumens price couldn’t perform that well in its early years. However, due to Stellar Lumens’ close ties with the banks, initially, it was considered a shadow project by the major banks. The project has already locked several fiat gateway partnerships across the world. It aims to achieve that by developing multiple fiat gateways across the globe. Unlike most of its competitors, Stellar Lumens is trying to bridge the gap between the traditional banking system and cryptocurrencies. In other words, Stellar wants to replace payment networks like Money Gram and Western Union. Stellar Lumens has always aimed to become the crypto-based global leader in cross-border payments. The latest analysis reveals that Stellar price may tank a lot if it breaches two key levels on its chart. Consequently, the price is now retesting the March lows. After a sharp sell-off in May, XLM crypto tried to recover but failed to do so. Stellar Lumens (XLM) price started the year very strongly as the price surged by more than 60% till March 2023.
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