Over the last week, Stellar (XLM) broke well above its 50-day moving average.
In doing so, it hit a two-month high of $0.3032 from a low of $0.1903. From here, if Stellar can push higher, we could see a potential test of a July 2018 high of $0.3477.
Reasons to Like Stellar at Current Prices
One of the key catalyst for XLM is Coinbase.com.
Just as we saw prior to the listing of Ethereum Classic (ETC) on its platform, Coinbase could do the same for XLM. Remember, just months ago, Coinbase announced XLM was one of the coins under consideration for listing. While there are no set dates for a listing, there is speculation it could happen before year-end.
Two, Goldman Sachs-backed Circle announced it was adding four new assets
These include EOS, Stellar, Ox, and Qtum. All four were chosen based on their potential to contribute infrastructure to the broader cryptocurrency system.
Three, Stellar Achieved One Million Active Accounts
The group announced it hit the one million active account milestone. It also achieved more than 3,000 assets, 25 million payments, and eight million trades with it.
According to XLM tweets, that’s growth of 350,000 new accounts in one month.
Four, XLM has a Strong Relationship with IBM
The two partners have been working on several projects.
And, according to Crypto Recorder, “The collaboration will make the XLM coin the transaction vehicle and given the IBM global market penetration, the coin will be the biggest gainer. As more investors join the BWW project, XLM usability will increase busting its market liquidity with increased value being the end game. Transaction costs and speeds have always limited growth potentials for many coins but for Stellar, the story is different.”
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