• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Stellar Lumens (XLM) Rally as Volumes Double After IBM Move

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in Uncategorized
Reading Time: 2min read
technical analysis altcoins
Advertisement
Nexo Logo
Listen to Article
  • Stellar Lumens up 11 percent from last week
  • IBM and six banks sign a letter of intent for World Wire stable coin issuance
  • Transaction volumes double in eight days

With IBM single-handedly bringing on board six banks, XLM prices are surging and up 11 percent in the last week. We expect prices to edge higher in days ahead. If prices close above 15 cents, Stellar Lumens (XLM) could double to 30 cents

Stellar Lumens Price Analysis

Fundamentals

Similar to Ripple, Jed McCaleb’s Stellar is a low-cost platform that enables cross border fund transfer aimed at the unbanked. It is the latest to receive support from CoinBase three months after the exchange placed the asset under consideration.

Coinciding with this liquidity boosting development is the announcement that IBM has successfully drawn six banks to World Wire. By signing a letter of intent, these banks are committing to use with three of them having received regulatory approval. As a result, they are ready to issue a stable coin pegged to fiat via the IBM’s World Wire enabling fast and cheap settlement. The Stablecoin will complement Stronghold that is unfortunately unavailable to US citizens due to regulatory hurdles.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

All the same, Jesse Lund of IBM is ambitious, and in this era of stable coins, this is what he had to say:

“As more stable coins come on board, the whole notion of FX changes over time. We are working very hard to expand the ecosystem of stable coins that will include many more banks and many more fiat currencies – so digital representations of fiat currencies – and even, eventually, the central bank issued digital currencies. “

Candlestick Arrangement

Stellar Lumens

Like Bitcoin Cash, Stellar Lumens (XLM) is the top performer adding 4.3 percent and 11 percent in the last day and week. We expect prices to expand as these new banks get approval from their respective regulators. With IBM strong ties with banks, their single effort to expose six banks at once is a big move for Stellar and would eventually help support XLM prices.

From the chart, it is clear that buyers are in charge and trading within a bullish breakout pattern. As mentioned in our previous trade plans, risk-off traders should fine-tune entries in lower time frame, take advantage of the strong bull momentum—prices are banding along the upper BB, with targets at 15 cents.

Meanwhile, risk-averse traders should ramp up once prices print above 15 cents. After that modest targets would be 30 cents or Nov 2018 highs.

Technical Indicators

Volumes are picking up as momentum increase. After breaking above 8 cents, average volumes have doubled from 4 million of Mar 10 to 8 million by Mar 18, hinting at demand. However, prices above 11 cents should be with high volumes exceeding 16 million of Mar 11

Tags: IBMStellar LumensXLM
TweetShare26
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Why This Analyst Expects Bitcoin Price Consolidation After the Recent 15% Drop

8 hours ago
bitcoin altcoins caution

Proper Altcoin Season While Bitcoin Drops Has Traders “Cautious”

12 hours ago
XRP Likely to Plunge towards $0.20 as SEC Woes Rattle Investors

Bitcoin’s Bear Case Suggests Move to $28,000 is a Possibility in the Near-Term

16 hours ago
bitcoin bubble crypto google search altcoin

Could Mt Gox Be The End Of Yet Another Epic Bitcoin Rally?

17 hours ago
Folgory

A Debit Card for Your Coin with Folgory

20 hours ago
Chainlink (LINK)

Charted: Chainlink (LINK) Revisits $18, Why It Could Soon Break $20

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 2021

RAI Finance Pre-sale Finishes in 1 Minute

January 13, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.