Connect with us

Blogs

Stellar Lumens (XLM) Technical Analysis – Is Stellar Acting Stellar?

Published

on

Stellar
READ LATER - DOWNLOAD THIS POST AS PDF

In 2014, Jed McCaleb the founder of Mt. Gox and co-founder of Ripple (XRP), launched the network system Stellar with former lawyer Joyce Kim. Before the official launch, McCaleb formed a website called “Secret Bitcoin Project”.

The nonprofit Stellar Development Foundation was created in collaboration with Stripe CEO Patrick Collision and the project officially launched that July. Stellar received $3 million in seed funding from Stripe.

Stellar was released as a decentralized payment network and protocol with a native currency, Stellar. At its launch, the network had 100 billion Stellars of which 25 percent of those would be given to other non-profits working toward financial inclusion.

Stripe received 2 percent or 2 billion of the initial Stellars in return for its seed $3M investment. The cryptocurrency, originally known as Stellar, was later called Lumens or XLM, as we know it today.

With a bit of Stellar Lumens (XLM) history behind us, let’s take a look at what is transpiring with XLM from a technical perspective and what may be in store moving forward from the daily chart below:

As we can observe from the daily chart above, after bottoming-out in early April followed by a nice counter-trend rally into early May, where XLM found stiff resistance at the .50 level, XLM has since found the going a bit rougher, sliding lower within a downward channel.

Additionally, XLM presently finds itself attempting to hold both its 50 and 200DMA’s at ‘potential’ support as well as its short-term uptrend line (purple line) as we can witness above.

While the present technical posture of XLM offers both investors/traders no real edge, it’s clear that Lumens finds itself at an important inflection point, technically speaking, with no clear direction.

That being said, it certainly is a positive that XLM continues to do battle at both its 50 and 200DMA’s as well as continuing to hold the line/s.

However, from a negative standpoint, XLM has not been capable of generating any real upside momentum, indicating thus far, that buyers and sellers continue to find themselves on a goal-line stand. In essence, we are witnessing a stalemate at present.

Thus, as both buyers and sellers remain engaged with neither seemingly in control at the moment, let’s take a look at some levels to monitor moving forward that may provide both investors/traders with some clarity.

If, at any point in the days ahead XLM is capable of hurdling the .35 and perhaps, more importantly, the .39 levels, such accomplishment, should it materialize, would surely be a positive development for XLM. On the opposite side of the ledger, the .27-.28 level provides potential short-term support, while more meaningful support is found at the .25 figure.

Nonetheless, it’s apparent that XLM presently finds itself at an important inflection point offering both investors/traders no real edge in either direction, which in answer to our question in the Title of this piece, “Is Stellar Acting Stellar”, the resounding answer remains, inconclusive, for now.

Happy Trading!!

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Jon Noel via Flickr

Chart courtesy of tradingview.com

Altcoins

Healthereum All Set to Tackle Problems of the Medical Sector

Published

on

Healthereum
READ LATER - DOWNLOAD THIS POST AS PDF

There has been a growing realization across medical circles that patient engagement is crucial in health management and for the general well-being of people. With that said, there isn’t much clarity about what patient engagement might entail. Several healthcare providers have tried to apply their own ideas of enhancing patient engagement, often overworking their limited staff and exhausting their financial resources in the process. They either end up giving up on the idea altogether or only carry it forward haphazardly.

The contemporary healthcare landscape is marked by no-shows, the lack of patient engagement or unsustainable attempts at it, poor survey response rates, and fraudulent insurance claims and billing errors. In such a setting, Healthereum brings a blockchain-based solution to tackle healthcare’s biggest challenges. Healthereum is a platform that will bind provider-patient and hospital-patient interaction into smart contracts, improve accountability, promote healthy behavior, offer two-way communication, and verify services—all in one.

Gamification of Appointments

Healthereum makes ingenious use of Ethereum blockchain technology that enables healthcare providers to give out HEALTH tokens through HELIO Syndicate to patients who show up to their appointments and/or complete the gamified tasks on the platform. These tokens can then be used for health benefits from their healthcare providers, hence enabling the full cycle of healthcare blockchain experience.

This experience helps to incentivize responsible behavior from the patient’s end which can save the healthcare industry billions…

Continue Reading

Blogs

Facebook Is Getting Closer to Launching Its Own Cryptocurrency, but Why

Published

on

Facebook cryptocurrency
READ LATER - DOWNLOAD THIS POST AS PDF

The rumors of Facebook own cryptocurrency are nothing new in the vast world of cryptocurrencies. They have been around for over a year now, with some insider reports confirming them for months, now. However, recently, another wave of confirmation has emerged, and these ones are referring to the coin as GlobalCoin.

There was already a number of events that seem to confirm the coin’s existence even further, such as the Facebook CEO, Mark Zuckerberg, meeting with the US Treasury and contacting the Bank of England in order to seek regulatory guidance and confirmation. Something is definitely coming, but one question that many are still asking is: Why? Why is Facebook developing its own cryptocurrency?

Facebook’s GlobalCoin

According to reports from those who seem to be familiar with the matter, GlobalCoin is expected to arrive in Q1 2020. In other words, the social media giant is ready to enter the final phase of designing the coin and start conducting various tests.

Considering Facebook’s size and user base, the coin will truly be a global one, and while this is nothing special when it comes to cryptos — they are borderless, after all — this will be the first coin with such a massive exposure. It will also be pegged to a number of different fiat currencies, such as the EUR and USD, and likely half a dozen others.

With…

Continue Reading

Blogs

Reasons Why You Are Much Safer When Crypto Trading on Dexes

Published

on

DEXes
READ LATER - DOWNLOAD THIS POST AS PDF

While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

Continue Reading

Elite