Stellar Lumen’s coin (XLM) took a huge hit just like other big cryptocurrencies despite attaining 5% in December. The price dropped to $0.2676 from the high of $0.44 withinside the 4th region, it’s been a turbulent time lately. A hefty loss is around 35% today, at present-day charges 65% continue to be peaking in 2021.

This could be in part due to the gloom in cryptocurrency prices, as leaders like Bitcoin are experiencing a similar drop below $50,000. As well as Ether (ETC) also feels a sharp drop in the market.

Blockchain allows fiat currencies and other assets to interact alongside cryptocurrencies, making fiat to crypto conversion simple. Moreover, the Stellar blockchain splits from the Ripple blockchain and decides to rewrite its code. Additionally, the Lumen or XLM coin is the network’s own coin. Users ought to have minimal stability of one lumen and pay a minimal transaction charge of 0.00001 lumens.

Minimum transaction fees allow users to send money quickly with no additional transaction costs. Stripe, Deloitte, IMB, and 12 other financial payment and institution processors in Asia and Europe are partners in the SDF. Financial establishments around the world can manner bills and problem property on a decentralized and scalable network.

Stellar Testnet Update

There was an update on the Stellar testnet to allow builders to develop Automated Market Makers (AMMs). Hence, AMM is improving the liquidity of the network as part of the Stellar Roadmap’s 2021 growth plan.

In July, Bloomberg reported that Stellar had approached US-based Moneygram International about a possible merger with Advent International. The two companies announced cooperation to enable payments using the USDC Circle stable coin. Customers can pay in USDC or local currencies. The integration allows MoneyGram to conduct transactions faster and reduces risk.

Users can now deposit cash into their digital wallets to all accredited MoneyGram locations and send payments globally. As well as customers can trade Stellar USDC for any coin supported by MoneyGram.

Thus, remember that the cryptocurrency market is volatile, and it is difficult to anticipate a coin’s price in the short term, let alone the long term. Before making any investment decisions, do your own research and evaluate the latest market trends, news, technical and fundamental analysis, and expert comments. Remember that past price performance does not guarantee future results.

“The opinions Avoiced in this Cryptocurrency news article are solely those of the individuals quoted or interpretations of the author. These opinions & interpretations are not necessarily endorsed by Your Crypto Banker or its subsidiaries.”