Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
Stellar Lumens (XLM) had been trading within a bearish range since mid-January, but has recently broken out of it. This shifted XLM’s bias from bearish at range highs to strongly bullish. In the event of a pullback, bulls will have a good buying opportunity in the $0.096-$0.099 range. This was the unbroken resistance that had lasted since November. If XLM’s pullback fell below $0.09, a drop below $0.096 would be required to shift the bias back towards bearish.
Early this month, Brazil’s central bank launched the pilot for its experimental central bank digital currency (CBDC). The test for Brazilian CBDC, Digital Real, is taking place on the Stellar blockchain network.
Soon thereafter, Pendulum announced the release of the Spacewalk bridge that connects the Polkadot infrastructure to Stellar’s blockchain so Polkadot can access fiat and stablecoin currencies. The Spacewalk bridge will allow Polkadot to access the entire infrastructure created by Stellar, especially that related to cross-border payments.
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