CRYPTO NEWS

Stellar Lumens eyes a breakout as price pumps 8%

  • Stellar Lumens price has been recovering after a double bottom

  • XLM could break out if the Federal Reserve stays dovish

  • The token could correct if sentiment weakens

After several days of meltdown, crypto prices are picking up again. One cryptocurrency gaining bullish strength is Stellar Lumens XLM/USD. The cryptocurrency has gained more than 8% in just 24 hours. A broader look also shows a negligible 0.70% loss in the past week. That’s despite most cryptocurrencies losing value by double digits in the last seven days. 

Stellar Lumens is an open network for money transfers. According to its website, Stellar simplifies the process of creating, transferring, and trading all digital forms of money. That also includes dollars and pesos, in addition to Bitcoin and other cryptocurrencies. The aim of stellar is to allow the global financial system to function on a single network.

The current trading of Stellar Lumens is $0.11. It is a significantly low price since it almost touched $0.8 in May 2021. At the low price, investors see XLM attractive ahead of the Federal Reserve rate decision. Can the price move higher from the current level?

XLM nears a resistance after forming a double bottom at $0.10

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Source – TradingView

A technical outlook of Stellar shows the price heading back to $0.115 resistance after it bottomed at $0.10. A double bottom price at the $0.10 level suggests a trend reversal. Buyers are looking to take the price higher. A MACD crossover also confirms a bullish momentum.

Concluding thoughts

If XLM remains bullish, a breakout will occur at $0.115 and attract more buyers. A less hawkish Fed and improved crypto sentiment will reinforce a breakout. If the sentiment weakens, expect a correction at or towards $0.115.

The post Stellar Lumens eyes a breakout as price pumps 8% appeared first on CoinJournal.

Maya Urges Businessmen to Adopt Blockchain

Sign up with your email and never miss another crypto and NFT stories from the Philippines and beyond! Editing by Nathaniel Cajuday Online payment platform Maya encouraged entrepreneurs and online merchants to consider entering blockchain technology as it goes mainstream and becomes easily accessible in the country. “So there is a lot of promises around::Listen

Editing by Nathaniel Cajuday

Online payment platform Maya encouraged entrepreneurs and online merchants to consider entering blockchain technology as it goes mainstream and becomes easily accessible in the country.

“So there is a lot of promises around the core technology behind cryptocurrency, which is blockchain, [as it] has a lot of promises in terms of international remittances, making it easier to buy goods and services around the world and also in terms of developing more secure and smart contracts for goods and services,” said Pepe Torres, Maya Chief Marketing Officer (CMO), said during the Franchise Asia Philippines 2022 virtual conference.

The latest Visa Consumer Payment Attitudes Survey was cited by Torres and said there is a growing interest to pay and get rewarded with cryptocurrencies.

Source: Visa Consumer Payment Attitudes Study 2021

“It is also worth noting that there is significantly growing interest in the Philippines and across the world to pay in crypto so there is increased interest, at 72 percent here in the Philippines, but also get rewarded in cryptocurrency by 76 percent,” he added.

It can be remembered that Maya rebranded from Paymaya last May 2022, a month after the e-wallet started offering crypto to its users after it partnered with the American crypto exchange Coinbase Institutional.

Maya Crypto, after a statement that it aims to be the “easiest way to start your crypto journey,” appears to have the biggest revamp: Maya confirmed that users can now buy, hold, and sell popular coins, including Bitcoin, Ether, Solana, Tether, and more, for as low as ₱1 all within the Maya app.

From that on, Maya started rewarding its mobile app users with Bitcoin and other crypto, for making transactions within the platform. 

In one instance, a student from Cebu won ₱1 million worth of Bitcoin for just making payments using the app. (For more details, read Maya Offers BTC Promo for 9.9 Sale and Student Pays Meal with Maya, Wins 1M worth of Bitcoin)

The Franchise Asia Philippines 2022 virtual conference was held on September 20 to 22, 2022 via Zoom. This was organized by the Philippine Finance Association. 

The event aims to be the gateway to the huge and consumption-oriented market in the Philippines as well as to the vibrant economies in the Asia-Pacific region. Their next event will be at the SMX Convention Center, Manila for their International Franchise Expo on October 14 to 16, 2022.

This article is published on BitPinas: Maya Urges Businessmen to Adopt Blockchain Technology

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

The post Maya Urges Businessmen to Adopt Blockchain appeared first on BitPinas.

Stellar Lumens eyes a breakout as price pumps 8%

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