If there is any cryptocurrency development foundation that knows how to entice users with airdrops, it’s the Stellar development foundation. There have been so many mega Stellar airdrops recorded in history with the latest being the Stellar Coinbase airdrop. Hype surrounding the Stellar Coinbase airdrop and other Stellar Lumens news contributed in supporting a 27.5% spike in the price of Stellar (XLM) in March 2019. Since Stellar enjoyed gains in March, what will April hold? Will XLM be bullish this April? What is the Stellar development foundation up to and how will it affect the Stellar XLM price forecast in April?
Stellar Lumens Latest News: Stellar Airdrop In March, What Is The Stellar Development Foundation Planning In April?
According to a Stellar price forecast on Beincrypto.com, Stellar gained 27.5% in the month of March. The Bitcoin bull rally that affected the entire cryptocurrency market a few days ago also helped the price of Stellar Lumens (XLM) to spike. However, the rally has come to an end and cryptocurrencies are losing the gains against the USD. Apart from sudden Bitcoin bull runs caused by FOMO, Stellar has strong fundamentals and technicals long-term even if the price of XLM is currently trading in red.
Stellar (XLM) Price Today – XLM / USD
The Stellar price analysis on the website suggests that the price of XLM will fall short-term. Keep in mind that Stellar is currently trading at $0.12613. This means that it is correcting higher after the price pull back trading higher by 2.32% against the USD and higher by 3.33% against BTC. It didn’t fall below the previous support line before the bulls gathered momentum. The strong bullish sentiment in the market shows that April is going to be a good year.
Fundamentally, Stellar has advantages over Bitcoin and many other cryptocurrencies. It has many use cases and it is affordable. The Stellar network has a solid foundation and is one of the best peer-to-peer networks in the world for payment settlement. It intends to be the foremost decentralized payment settlement system in the world and attend to the needs of the unbanked members of society. The Stellar development foundation has devoted a lot of time and resources to making sure this vision for Stellar becomes a reality.
Stellar Lumens News Today – Stellar Price Forecast What Does The Future Hold For Stellar Lumens XLM?
In one of our Stellar Lumens price analysis, we said that releasing XLM tokens into circulation in numerous Stellar airdrops may not be good for the price of XLM long term. This is because more XLM in circulation means less scarcity and this often has a negative effect on price. The Stellar airdrops will promote the adoption of the Stellar network and create awareness for the Stellar XLM token. It may even lead to a short-term surge in the price of XLM. However, the long-term effect is yet to be seen.
This April we should expect the price of XLM to remain bullish against the USD. Stellar XLM may gain by another 25% or 50% by the end of the month. The entire cryptocurrency market is primed for a full comeback and altcoin season is upon us. So, it isn’t unrealistic to expect the price of Stellar (XLM) to rise significantly this month.
What do you think about the Stellar Lumens news today? Will the Stellar airdrop hosted by the Stellar development foundation have a positive or negative effect on the price of XLM? Feel free to share your comments below.