Since its introduction in 2014, the Stellar (XLM) cryptocurrency has steadily increased in popularity. Following a significant price peak of $0.9314 in January 2018, it has since experienced a price rollercoaster. The cost of Stellar (XLM) was roughly $0.07933 on January 15, 2023.
Due to the Stellar 2022 wrap-up including year-end metrics, milestones, successes, and other happenings in the Stellar ecosystem, we forecast that the price of Stellar (XLM) will be approximately $0.1085 at the end of January 2023.
Stellar (XLM) Development Overview
A digital asset platform called Stellar (XLM) aims to make financial transactions between organizations and individuals faster, more effective and more affordable. IOt faciliates smooth, efficient, and secure cross-border payments using blockchain technology. The Stellar platform has significantly grown since its introduction in 2014. Many companies and almost 1,400 developers made up the Stellar ecosystem in 2021.
Stellar (XLM) End of Year Report
The Stellar (XLM) Foundation has released a report detailing the progress and evolution of the Stellar (XLM) cryptocurrency over the course of the previous year. Since the network’s debut, more than 1.4 million accounts have been established, and market activity has resulted in the creation of more than 12 billion XLM. Additionally, the Stellar network has handled over 300 million transactions since its inception, including about 100 million transactions only in 2020.
The milestones for partnerships and collaborations for Stellar (XLM), including several new significant collaborations in 2021, were also covered in the study. This includes companies like Circle, Deloitte, a leading accounting and auditing firm, and ConsenSys, a blockchain incubator.
Stellar (XLM)’s 2021 Milestones
One of the significant launches of 2021 was the release of Interstellar, a software development kit that enables programmers to create custom distributed ledger apps. Through the Stellar DEX, protocol, and custodial services, developers can create unique Lumen (XLM) experiences using the development tools offered in Interstellar. More than 10,000 developers now use the development environment, which has helped to simplify the process of creating Stellar-based applications.
Stellar (XLM) achieved another major milestone in 2021 with the launch of the new Anchor Protocol. This protocol enables issuers to create tokenized fiat currency and securely store users’ funds, as well as issue certifications, trading, and payments. It also opens up payment channels, which allows users to send and receive payments in almost real-time, reducing the time and cost of transactions.
The Stellar (XLM) platform also launched the Bitcoin (BTC) Lumens Bridge, allowing users to exchange Bitcoin for Stellar Lumens, without having to trust a third-party.
Expected Price Increase
Given the impressive set of milestones and partnerships achieved in 2021, as well as its development tools, we expect the price of Stellar (XLM) to increase to around $0.1085 by the end of January 2023.
This would mean that in a period of 8 months, the price of Stellar (XLM) will have grown from its current price of $0.07933 to $0.1085, which is a growth of approximately 36.43%.
Conclusion
Despite the continuous ups and downs of the Stellar (XLM) network, the end-of-year metrics, achievements and milestones make it appear that the network will continue on the upward trajectory. The 2021 developments and releases have enabled the existing ecosystem of developers and partner organizations to expand and strengthen, and will likely attract more partners and developers in the coming year. Therefore, we expect the price of Stellar (XLM) to reach around $0.1085 by the end of January 2023.
FAQs
Several factors are contributing to the increase of the price of Stellar (XLM). These factors include increasing usage and demand, recent partnerships and collaborations, and new product launches.
According to our analysis, we expect the price of Stellar (XLM) to reach $0.1085 by the end of January 2023.
Every investment is associated with an inherent risk. Investing in cryptocurrency, such as Stellar (XLM), is especially risky and subject to drastic swings in value due to a variety of factors, including market volatility, regulation, and technological advances. Be sure to research the risks and rewards associated with any investment prior to investing.
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