Wirex has reportedly launched 26 new stable coins on Stellar’s Blockchain. The price target for the new coins by year end is $1. Hopefully, Stellar has the capacity to integrate these new coins. Will this development affect Stellar Lumens price prediction positively? Is Stellar the best cryptocurrency to invest in 2019?
Stellar is one of the Blockchain’s that have been constantly making massive developments. The protocol has successfully tied-up collaborations. It has fully embarked on a model to grow the price of Stellar Lumens. Now, XLM news today reveals that payment platform, Wirex has decided to launch 26 stable coins on Stellar’s blockchain network. Wirex is a U.K based payment platform. The U.K headquartered payment network has officially declared that on its platform, fiat will support stable coins.
Stellar Lumens Price Prediction: Stellar Lumens Was Added to Coinsquare and CoinDeal
The stable coins will be traded with fiat like the USD, the euro, the Hong Kong dollar, the British pound, and the Singapore dollar. Apart from these options initiated by Wirex, Stellar’s native token, Stellar Lumens has been made available on two new exchanges. The exchanges include CoinDeal and Coinsquare.
The decision to add Stellar to new exchanges will likely have a positive effect on the price of Stellar Lumens. Which is why the coin’s price has been predicted to reach $1 USD by year end. Let us analyze the current price action and data for Stellar Lumens to get a clearer understanding of the picture.
Stellar Lumens Price Prediction: Comparing the Price of Stellar Lumens From February 2019 to Current Levels
Stellar is ranked by coin market cap as the number 9 largest cryptocurrency by market capitalization. The Return on Investment for Stellar stands at 4395.51%. The circulating supply of Stellar Lumens is 19,267,054,195 XLM as of press time. With a market cap of $2,576,831,157. The price of Stellar Lumens stood at $0.14 with a 24 hour trade volume of $ 410,035,761.
The price of Stellar Lumens had started this year at $0.11. However, it has since gone through many crucial price variations in the past four months. The lowest point for the price of Stellar Lumens was attained on February 8 when it traded at $0.074. The highest point for the price of Stellar Lumens on the other hand, was reached on May 16 when the coin reached $0.14. The total market capitalization of Stellar Lumens as of April 22 was $2,191,918,966. The price of Stellar Lumens was at $0.113198 on the said date. Now, the current market capitalization and the price of Stellar Lumens are 17.56% and 23.67%. This means that the current figures are more than what was attained last month.
Stellar Lumens Price Prediction: The Price of Stellar Lumens is Bullish Now
As mentioned earlier, Stellar is now in a bullish period. The next important resistance position will be at $0.25, $0.30, and $0.35. By this year end, the price of Stellar Lumens will reach the highly anticipated $1 mark. The next high point in the further will come at the end of 2020. The price of Stellar Lumens will reach $5 on the said date.
Going by the above analysis it is much better to expect new entrants to into Stellar. The long-term bullish outlook will give investors a profit of 3x their investment value. Is Stellar the best cryptocurrency to invest in 2019?
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.