- Stellar (XLM) price is trading above 4% today to slightly reduce the huge losses recorded so far in December.
Stellar (XLM) price is trading above 4% today to slightly reduce the huge losses recorded so far in December.
Fundamental analysis: Stellar Development Foundation invests $ 3 million in Settle Network
Stellar Development Foundation said it has made a strategic investment in the largest Latin American digital assets settlement network for the exchange and cross-border payments Settle Network.
SDF’s $ 3 million investment in stellar lumens is expected to improve Settle’s payment tools for B2C and B2B users, including fiat-to-crypto migration paths, stablecoin printing and marketplace, as well as stablecoin payment processing and merchant gateway.
“The Settle Network fulfills Stellar’s vision and mission, providing blockchain technology and access to finance for people who need it,” said Denelle Dixon, CEO of SDF.
With this shared mission that drives us, our investment represents Settle’s tremendous success to date in serving the LATAM communities and the potential to make stablecoin technology globally accessible and useful. This is how we’re scaling the further adoption of blockchain technology together.
Total stablecoin supply doubled in the third quarter of this year, indicating a strong increase in stablecoin demand. As such, Settle Network is well positioned to continue to grow with the stablecoin market, with additional support from the recent launch of the first stablecoin exchange, StableX.
This is the fourth investment made by the Stellar Development Foundation this year, and the total investment this year amounts to $ 9,265 million. Before Settle, the foundation invested in three more companies, including DSTOQ, SatoshiPay, Abra.
The views of Pablo Orlando, the CEO of Settle Network, were as follows:
When we launched Settle, we chose to develop Stellar because its technology was designed for global interoperability. And this allowed us to build a thriving stablecoin business at LATAM and expand our product offering to launch StableX, the world’s first stablecoin exchange and stablecoin gateway.
Technical analysis: low performance in December
XLM / USD price is trading above 4% today as buyers try to break the downward trend that started in the last week of November. It is likely to continue to put downward pressure on the XLM price.
The trend line connecting these two peaks comes just below the $ 0.20 price if XLM buyers can make a price move 30% higher than the current market price. Conversely, a major support line is located near $ 0.12.
Stellar Development Foundation has invested $ 3 million in Settle Network, the largest Latin American digital asset settlement network for clearing and cross-border payments. Meanwhile, buyers are trying to ease the bearish pressure and push the price action towards $ 0.20 in January.