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.
The price analysis of Stellar (XLM) shows that it is suffering the brunt of bearish market sentiment. XLM was trading at $0.0899 at press time, losing 6% of its value within a day. The past few days have been supportive of bullish traders after the price of XLM rose to $0.099 two days back.
Its trading volume has dropped to $129 million and is still far below previous levels, indicating that investors are reluctant to trade due to bearish market sentiment.
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.
Last week, 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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