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Crypto whales transfer 260,000,000 Stellar while XLM price tries to stabilize

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The whales’ movement related to Stellar isn’t the first of its kind

Whale Alert today analyzed the massive transfer of Stellar’s XLM cryptocurrency from unknown wallet to a crypto wallet that belongs to Kraken exchange.

Whales Move Massive XLM Tokens

A massive 260,000,000 XLM transaction made crypto headlines today which currently worth 15,008,070 USD. The transaction was deemed successful on September 14, 2019, at 00:08:11 UTC between unknown wallet, i.e., GBKSIHGCSYGYLOBPRUL3UDTR4YMBJIUFJJGIKI445GPGIUMX7HJAZKON to a wallet held with Crypto exchange Kraken, i.e., GA5XIGA5C7QTPTWXQHY6MCJRMTRZDOSHR6EFIBNDQTCQHG262N4GGKTM.

The XLM cryptocurrency is already stepped out from the top 10 cryptocurrency’s list on coinmarketcap; it continued experiencing the decline in its daily trading volume. At the time of reporting, the coin is holding 12th largest spot with $1,156,112,429 market capitalization. It is trading at $0.057565 with an appreciation in price by 0.15 percent within the past 24 hours. Admittedly, the coin is showing some fight.

Whales movement in the crypto industry is no more surprise these days since such transactions get caught quite often. Very recently, on Sept.11, Whale Alert spotted transfer of $1 billion worth bitcoin transactions to a single wallet which believed to be a gigantic movement of bitcoins to an unknown wallet.

Stellar and Ripple

Stellar is a blockchain network, founded by a former CTO of Ripple, Jed McCaleb. As both firms offer similar services, Ripple and Stellar termed competing giant. With that being said, the Stellar recently hired Zelle co-founder Mike Kennedy as the CEO of Interstellar, Stellar’s business arm that develops payment protocols on the stellar network.

As Interstellar’s new CEO carries years of experience in the digital payment industry, Stellar aims high and likely face-off Ripple’s ongoing efforts in the fintech industry. Expressing his interest in joining Interstellar, Mike states;

“One of the things Interstellar is going to do is identify gaps between Liquidity and market-making and step in and fill those voids.”

Kennedy added,

“I think programmable money, digital assets, and digital tokens are the future. They allow for faster, cheaper, more efficient money movement than the old traditional way of doing things.”

Besides, the whales’ movement related to Stellar isn’t the first of its kind. Not too long ago, Stellar founder Jed McCaleb was on top bulletins of crypto media. It’s worth noting Jed McCaleb’s wallet address allegedly received XRP worth $26 million from Ripple.

That news wasn’t well-received by the community; few users blasted Ripple over transferring 100 million XRP to Jed McCaleb when company’s native token XRP itself has been making lower lows without showing any signs of accountable recovery.

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Stellar

Stellar Price Exhibits Improved Price Momentum; Trades Around $0.064

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Stellar price is indicating towards having a profitable end for the intraday traders. The investors of Stellar were seen suffering from quite some time while the ongoing month has brought a steadiness at the trading price. The same has deteriorated the profit quotient.

The future expectations are quite high from Stellar as per the anticipations that price would move up as Stellar Lumens has entered a few ventures that are quite promising. In the upcoming time, the ventures are ought to give a long-lasting effect and the coin is expected to rank among the top 10 cryptocurrencies of the global market.

XLM to USD Price Analysis:

Stellar graph seems to have quite a flattening price trend. The last month spotted an upsurge between October 16 and 18 when the price jumped from $0.058 to $0.089 marking an escalation 54.12%. Later, the currency fell to $0.050 by 42.59%. The price recovered and closed the month at $0.062. In the ongoing month, the coin started climbing after a few bumps. The counters changed from $0.057 to $0.065 by 12.98%. Later, the price moved from $0.059 to $0.066 by 15.62% and the month has recorded a 6.86% profit until now.

The MACD lines are moving up with the upward moving histogram, placed slightly above zero with a bullish crossover.

Stellar price
XLM Chart By TradingView

XLM is slowly moving towards the immediate resistance level at $0.066518. The next level is formed around $0.06811 which also seems possible for XLM to break. However, if Stellar is unable to move forward and break the resistance level, then the immediate support is created at $0.061759.

Resistance LevelPrice
R1$0.066518
R2$0.06811
R3$0.071277
Support LevelPrice
S1$0.061759
S2$0.058592
S3$0.057

Stellar is a volatile coin. Hence, the currency is recommended for short-term investors. The long term investment might be a little dicy for the investors, thus we do not vote for the same.

Source.cryptonewsz.

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Stellar

Stellar (XLM) Price Exhibits Possibility to Escape From Bearish Trend

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  • Stellar breaches its immediate resistance level at $0.061
  • Intraday trading might be profitable for traders

Stellar is indicating towards a profitable intraday movement as the coin trades around $0.061. It has already breached its immediate resistance and moving towards the next at $0.063. The last level marked around $0.064. The movement in the price is indicating towards a flourishing day.

However, the market is bearish, there are chances that Stellar comes under market pressure and falls. The price might slip. In that case, XLM coin would find the support at $0.058. If the same continues, the coin can get the next support at $0.057 and the last at $0.055.

XLM Price Analysis:

XLM Price Analysis
Stellar Price Chart By TradingView

The price was at $0.062 at the beginning of last month. With a slight uptrend and later a fall, Stellar booked a major escalation of 54.29% on September 18, 2019. XLM price counters moved from $0.058 to $0.089. The price couldn’t hold itself and fell to $0.051 by 42.59%. The last few days of the month booked recovery of 20.81%. The price moved to $0.062 and closed with a slight loss of 0.38%. In October, the first few days brought a drop of 6.26%. The price moved from $0.062 to $0.058. Thereafter, the price moved up to $0.064 from $0.058 by 10.69%.

Stellar is quite a volatile coin. The recent movement in the price has changed the momentum. The currency is seen trading at $0.060. However, there is also a slight uptrend noted in the XLM. The future of the coin is promising. Yet, the recent days could expect a downfall or a less profitable day.

XLM coin is mostly recommended for short term traders due to its volatility. The long-run might carry some risk, hence we do not vote for the same.

Source.cryptonewsz.

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Stellar

Stellar (XLM) Price Exhibits Possibility to Escape From Bearish Trend

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  • Stellar (XLM) breaches resistance level 1 at $0.061
  • Intraday trading might be profitable for traders

Stellar is indicating towards a profitable intraday movement as the coin trades around $0.061. It has already breached the resistance level 1 and moving towards the next at $0.063. The last level marked around $0.064. The movement in the price is indicating towards a flourishing day.

However, the market is bearish, there are chances that Stellar (XLM) comes under market pressure and falls. The price might slip. In that case, XLM would find the support at $0.058. If the same continues, XLM can get the next support at $0.057 and the last at $0.055. Let’s take a look at the price chart.

XLM to USD Price Analysis:

XLM Price Analysis

The price was at $0.062 at the beginning of last month. With a slight uptrend and later a fall, the price booked a major escalation of 54.29% on September 18, 2019. The price counters moved from $0.058 to $0.089. The price couldn’t hold itself and fell to $0.051 by 42.59%. The last few days of the month booked recovery of 20.81%. The price moved to $0.062 and closed with a slight loss of 0.38%. In October, the first few days brought a drop of 6.26%. The price moved from $0.062 to $0.058. Thereafter, the price moved up to $0.064 from $0.058 by 10.69%.

Stellar is quite a volatile coin. The recent movement in the price has changed the momentum. The currency is seen hovering around $0.060. However, there is also a slight uptrend noted in the coin. The future of the coin is promising. Yet, the recent days could expect a downfall or a less profitable day.

Stellar is mostly recommended for short term traders due to its volatility. The long-run might carry some risk, hence we do not vote for the same.

Source.cryptonewsz.

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