Stellar network service is on the rise. While its recent collaboration with Samsung to expand its blockchain ecosystem experience has made headlines, a $ 5 million investment with wallet provider Abra is set to enable the protocol to offer banking services. Regardless, the most recent partnership with USDC makes previous developments look smaller.

 

 

USDC, the second largest stablecoin, is live on the Stellar network

The Stellar Development Foundation announced in a recent blog post that Circle will integrate its stable coin, USDC, for anyone to use through integrated wallets. The partnership instantly adds value to businesses in the Stellar ecosystem and offers FinTech industry players the chance to optimize international placements.

Users can take advantage of USDC’s fast payment capabilities and liquidity, and Stellar’s tokenization and cross-border features.

As Ripple, Stellar’s direct competitor, has been temporarily eliminated due to the SEC’s lawsuit, this could be XLM’s opportunity to gain a strong foothold in the trillion-dollar cross-border payments industry.

XLM price on the brink of a bullish wave

Sellar saw a significant increase as the price jumped from the 23.6% Fibonacci level ($ 0.23) for the third time on January 28th. Since then, XLM has risen by 45% and is currently trading between the 78.6% and 61.8% Fibonacci retracement level on the 12-hour chart.

See Also
Stellar took flight with this development

Despite the bullish trend painted by SuperTrend and Parabolic SAR, XLM price needs to break through one of these critical levels to get a clear picture of where it is heading next.

A candlestick above the 78.6% Fibonacci retracement level could quickly push the coin towards the $ 0.53 level by 50%.

On the other hand, an increase in selling pressure pushing Stellar below the 61.8% Fibonacci level would invalidate the bullish outlook. If this happens, the XLM price could see $ 0.23 at a 30% rate.

LEAVE A REPLY

Please enter your comment!
Please enter your name here